Post Utme Rhema University 2019 Economics Question 16

Practice objective / multiple choice question 16 from the 2019 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2019 Economics Objective / Multiple Choice
Question 16 POST_UTME_RHEMA_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's indifference curve is downward sloping and convex to the origin. What is the implication of this shape on the consumer's willingness to substitute one good for another?

Answer Options

A. The consumer is willing to substitute one good for another at an increa\sing rate.
Correct Answer B. The consumer is willing to substitute one good for another at a decrea\sing rate.
C. The consumer is indifferent to substituting one good for another.
D. The consumer is unwilling to substitute one good for another.
Correct Answer
B
Correct Option:
The consumer is willing to substitute one good for another at a decrea\sing rate.

About This Question

This is Post Utme Rhema University 2019 Economics Question 16. It is one of the objective questions from the 2019 Post Utme Rhema University Economics examination.

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