Post Utme Al Hikmah University 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice
Question 37 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • 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, what is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. (20, 10)
B. (15, 5)
C. (10, 2)
D. (5, 1)
Correct Answer
A
Correct Option:
(20, 10)

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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