Economics > 2005 > 29
JAMB UTME
If the marginal utility of the last unit of commodity X at ₦2 is 16 and that of commodity Y at ₦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
Answer: A
To see detailed solution to this question and thousands of other questions offline, download TestDriller UTME. Practice rigorously for UTME, enjoy educational games, summary of JAMB literature books, compete with your peers, win prizes and more.
09037778195