Post Utme Pan Atlantic University 2019 Economics Question 26

Practice objective / multiple choice question 26 from the 2019 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2019 Economics Objective / Multiple Choice
Question 26 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's indifference curve is convex to the origin and has a negative slope. What does this imply about the consumer's preferences?

Answer Options

A. The consumer prefers more of the good with the higher price.
B. The consumer is indifferent between the two goods.
Correct Answer C. The consumer prefers more of the good with the lower price.
D. The consumer is risk-averse.
Correct Answer
C
Correct Option:
The consumer prefers more of the good with the lower price.

About This Question

This is Post Utme Pan Atlantic University 2019 Economics Question 26. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Economics examination.

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