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From the graph above, the consumer is at equilibrium at point

Economics
JAMB 2023

From the graph above, the consumer is at equilibrium at point

  • A. k
  • B. l
  • C. m
  • D. j
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Correct Answer: Option A
Explanation

The consumer is at equilibrium is at point k where the slope of the indifference curve is tangential to the budget line.

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Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Project Topics and Materials, Post-UTME past questions - Download now or upload yours to get paid
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts