Post Utme Osustech 2017 Commerce Question 18
Practice objective / multiple choice question 18 from the 2017 Post Utme Osustech Commerce examination.
A consumer has a budget constraint of 100 units of currency and a preference for two goods, X and Y. The prices of X and Y are 5 and 10 units of currency, respectively. If the consumer's indifference curve is tangent to the budget line at point (20, 10), what is the marginal rate of substitution (MRS) between X and Y?
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About This Question
This is Post Utme Osustech 2017 Commerce Question 18. It is one of the objective questions from the 2017 Post Utme Osustech Commerce examination.
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