Consumer Equilibrium Using The Indifference Curve And Marginal Analyses - Economics Jamb Past Questions and Answers

Question 6 :

• JAMB 1978

A rational consumer will adjust his spending pattern so that

A. He buys only the one item that gives him most total satisfaction
B. The marginal utility he gets from the last unit of item is the same
C. The marginal utility he gets from the last naira spent on each item is the same
D. The total utility he gets from each item is the same
E. The total amount of money he spends on each item is the same

Question 7 :

• JAMB 1999

In the diagram above, the consumer attains equilibrium at point

A. G
B. H
C. J
D. K

Question 8 :

• JAMB 2000

In the diagram L₁L₁ and L₂L₂ are budget lines. 1₁1₂ and 1 ₃ are indifference curves. which points are optimal?

A. U and W
B. V and W
C. U and Z
D. Y and Z

Question 9 :

• JAMB 2001

At the consumer equilibrium, the slope of the indifference curve is?

A. Half the slope of the budget constraint line
B. Equal to the slope of the budget constraint line
C. Greater than the slope of the budget constraint line
D. Less than the slope of the budget constraint line

Question 10 :

• JAMB 2011

When a consumer is at equilibrium, the MRS_xy is equal to the

A. Sum of the prices
B. Product of the two prices
C. Ratio of the two prices
D. Difference of the two prices