Question: Q1: True or false justify_your answer: (20marks) 1. Consumer willingness and ability are both expressed through his budget. 2. Substituting commodity (X) for commodity (Y)

Q1: True or false justify_your answer: (20marks) 1. Consumer willingness and

Q1: True or false justify_your answer: (20marks) 1. Consumer willingness and ability are both expressed through his budget. 2. Substituting commodity (X) for commodity (Y) along the indifference curve increase the consumer's utility or satisfaction. 3. It is the same for consumer to consumer at points (1, 2, and 3). 4. The indifference curve is always negatively sloping. 5. If the budget line slope

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consider how quantitative data can contribute to your research;

draw appropriate conclusions based on your data.

make sense of basic terminology used in quantitative data analysis;