Post Utme Aaua 2022 Economics Question 21

Practice objective / multiple choice question 21 from the 2022 Post Utme Aaua Economics examination.

Post Utme Aaua 2022 Economics Objective / Multiple Choice

Question 21 POST_UTME_AAUA • 2022 • ECONOMICS • objective

A consumer's budget constraint is given by P1Q1 + P2Q2 = I, where P1 and P2 are prices, Q1 and Q2 are quantities, and I is income. If the consumer's income is $100, and prices are $5 and $10 respectively, calculate the consumer's optimal bundle of goods.

A. Q1 = 10, Q2 = 5

Correct Answer B. Q1 = 20, Q2 = 2

C. Q1 = 15, Q2 = 3

D. Q1 = 25, Q2 = 1

Correct Answer

Correct Option:

Q1 = 20, Q2 = 2

This is Post Utme Aaua 2022 Economics Question 21. It is one of the objective questions from the 2022 Post Utme Aaua Economics examination.

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