Post Utme Aaua 2019 Economics Question 33

Practice objective / multiple choice question 33 from the 2019 Post Utme Aaua Economics examination.

Post Utme Aaua 2019 Economics Objective / Multiple Choice
Question 33 POST_UTME_AAUA • 2019 • ECONOMICS • objective

A consumer has a budget of ₦1000 and is faced with the following prices for two goods, X and Y: P_X = ₦200 and P_Y = ₦300. The consumer's utility function is given by U = 2X^0.5Y^0.5. What is the consumer's optimal consumption bundle?

Answer Options

Correct Answer A. The consumer's optimal consumption bundle is (2, 1).
B. The consumer's optimal consumption bundle is (1, 2).
C. The consumer's optimal consumption bundle is (3, 0).
D. The consumer's optimal consumption bundle is (0, 3).
Correct Answer
A
Correct Option:
The consumer's optimal consumption bundle is (2, 1).

About This Question

This is Post Utme Aaua 2019 Economics Question 33. It is one of the objective questions from the 2019 Post Utme Aaua Economics examination.

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