Post Utme Rhema University 2021 Economics Question 20
Practice objective / multiple choice question 20 from the 2021 Post Utme Rhema University Economics examination.
A consumer's budget constraint is given by the formula \( p_1 x_1 + p_2 x_2 = I \), where \( p_1 \) and \( p_2 \) are the prices of goods 1 and 2, \( x_1 \) and \( x_2 \) are the quantities of goods 1 and 2, and ( I ) is the consumer's income. If the prices of goods 1 and 2 are $10 and $20, respectively, and the consumer's income is $100, what is the maximum quantity of good 1 that the consumer can buy?
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About This Question
This is Post Utme Rhema University 2021 Economics Question 20. It is one of the objective questions from the 2021 Post Utme Rhema University Economics examination.
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