Post Utme Rhema University 2025 Commerce Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Rhema University Commerce examination.

Post Utme Rhema University 2025 Commerce Objective / Multiple Choice
Question 38 POST_UTME_RHEMA_UNIVERSITY • 2025 • COMMERCE • objective

A consumer is considering purchasing a product that has a price of ₦1000. The consumer's budget is ₦2000, and the consumer is willing to spend up to 50% of their budget on the product. Which of the following best describes the consumer's willingness to pay for the product?

Answer Options

A. The consumer is willing to pay up to ₦1000 for the product.
B. The consumer is willing to pay up to ₦2000 for the product.
Correct Answer C. The consumer is willing to pay up to ₦1000 for the product, but is not willing to pay more.
D. The consumer is not willing to pay more than ₦1000 for the product.
Correct Answer
C
Correct Option:
The consumer is willing to pay up to ₦1000 for the product, but is not willing to pay more.

About This Question

This is Post Utme Rhema University 2025 Commerce Question 38. It is one of the objective questions from the 2025 Post Utme Rhema University Commerce examination.

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