JAMB Economics 2017 Objective — Question 21
Question 21 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2017 Objective paper, with the correct answer and a full explanation.
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Given a consumption function C = 10 + 0.6Y, determine the value of C if Y is 20
- A. 36.60
- B. 22.00Correct
- C. 30.60
- D. 26.00
Explanation
C = 10 + 0.6Y; with Y=20: C = 10 + 0.6(20) = 10+12 = 22.
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