Post Utme Al Hikmah University 2018 Commerce Question 27

Practice objective / multiple choice question 27 from the 2018 Post Utme Al Hikmah University Commerce examination.

Post Utme Al Hikmah University 2018 Commerce Objective / Multiple Choice
Question 27 POST_UTME_AL-HIKMAH_UNIVERSITY • 2018 • COMMERCE • objective
Post Utme Al Hikmah University 2018 Commerce Question 27 diagram

A consumer's indifference curve is given by the equation u(x, y) = 2x + 3y. If the consumer's initial endowment is (x0, y0) = (10, 20), and the price of good x is ₦5, what is the consumer's optimal bundle?

Answer Options

A. ₦30, 10 units of x and 20 units of y
Correct Answer B. ₦40, 15 units of x and 30 units of y
C. ₦50, 20 units of x and 40 units of y
D. ₦60, 25 units of x and 50 units of y
Correct Answer
B
Correct Option:
₦40, 15 units of x and 30 units of y

About This Question

This is Post Utme Al Hikmah University 2018 Commerce Question 27. It is one of the objective questions from the 2018 Post Utme Al Hikmah University Commerce examination.

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