Post Utme Unilorin 2020 Economics Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2020 Economics Objective / Multiple Choice
Question 13 POST_UTME_UNILORIN • 2020 • ECONOMICS • objective

A consumer's indifference curve is a graphical representation of the various combinations of two goods that yield the same level of satisfaction. If the consumer's indifference curve is convex to the origin, what does this imply about the consumer's preferences?

Answer Options

A. The consumer prefers more of good X to good Y.
B. The consumer prefers more of good Y to good X.
Correct Answer C. The consumer is indifferent between good X and good Y.
D. The consumer prefers a combination of both goods X and Y.
Correct Answer
C
Correct Option:
The consumer is indifferent between good X and good Y.

About This Question

This is Post Utme Unilorin 2020 Economics Question 13. It is one of the objective questions from the 2020 Post Utme Unilorin Economics examination.

View More Post Utme Unilorin 2020 Economics Questions More Post Utme Unilorin Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support