EconomicsTheory of consumer behaviourJAMB
A consumer spends all his income on X and Y. MUx = 20, Px = ₦4, MUy = 30 and Py = ₦6. The consumer is
Show answer
Answer: A. in equilibrium
MUx/Px = 5 and MUy/Py = 5, so the ratios are equal.
An AdmitMe practice question, written for the JAMB syllabus. Not an official past question.