Post Utme Wellspring University 2017 Economics Question 17
Practice objective / multiple choice question 17 from the 2017 Post Utme Wellspring University Economics examination.
A consumer's budget constraint is given by P1X + P2Y = 100, where P1 and P2 are the prices of goods X and Y respectively, and X and Y are the quantities consumed. If the consumer's current consumption is (X, Y) = (20, 15), what is the consumer's marginal rate of substitution (MRS) of good X for good Y?
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About This Question
This is Post Utme Wellspring University 2017 Economics Question 17. It is one of the objective questions from the 2017 Post Utme Wellspring University Economics examination.
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