Post Utme Abu 2020 Economics Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Abu Economics examination.

Post Utme Abu 2020 Economics Objective / Multiple Choice

Question 7 POST_UTME_ABU • 2020 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle?

Correct Answer A. x = 40, y = 20

B. x = 30, y = 30

C. x = 20, y = 40

D. x = 10, y = 50

Correct Answer

Correct Option:

x = 40, y = 20

This is Post Utme Abu 2020 Economics Question 7. It is one of the objective questions from the 2020 Post Utme Abu Economics examination.

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