Question 0

If the marginal utility of the last unit of commodity X at N2 is 16 and that of commodity Y at N 4 is 24, the consumer will be at equilibrium when

  • A.the price-quantity ratios are equal
  • B.equal amounts of X and Y are consumed
  • C.less of Y and more of X are consumed
  • D.less of X and more of Y are consumed
  • E.
Objective

Question details

Exam body
JAMB
Subject
Economics
Year
2005
Question no.
#0
Type
Objective

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