Post Utme Afe Babalola University 2018 Economics Question 6

Practice objective / multiple choice question 6 from the 2018 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2018 Economics Objective / Multiple Choice
Question 6 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( U(x,y) = 2x + 3y ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, find the consumer's optimal bundle of x and y.

Answer Options

A. x = 40, y = 30
Correct Answer B. x = 60, y = 20
C. x = 80, y = 10
D. x = 100, y = 0
Correct Answer
B
Correct Option:
x = 60, y = 20

About This Question

This is Post Utme Afe Babalola University 2018 Economics Question 6. It is one of the objective questions from the 2018 Post Utme Afe Babalola University Economics examination.

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