The Theory of Consumer Behaviour - Jamb Economics Past Questions and Answers

Question 56:

• JAMB 2006

If the marginal utility of good X exceeds that of good Y, this implies that

A. A rational consumer will buy less of X
B. Consuming more of X will increase total utility
C. Y is an inferior good
D. X will be cheaper than Y

Question 57:

• JAMB 2006

A commodity will be demanded only if

A. Consumers income increases
B. It has no close substitutes
C. The price is low
D. It has utility

Question 58:

• JAMB 2006

A commodity will be demanded only if

A. Consumers income increases
B. It has no close substitutes
C. The price is low
D. It has utility

Question 59:

• JAMB 2006

A straight line indifference curve indicates that the two products are

A. Normal goods
B. Inferior goods
C. Perfect substitutes
D. Close substitutes

Question 60:

• JAMB 2006

A movement from K to M will

A. Decrease the consumer's utility
B. Increase the price of the commodity
C. Increase the consumer's utility
D. Leave consumer's utility unchanged