Post Utme Al Hikmah University 2024 Economics Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2024 Economics Objective / Multiple Choice

Question 25 POST_UTME_AL-HIKMAH_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has a utility function given by ( U(x, y) = x^{2} + 2y ). 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?

Answer Options

Correct Answer A. x = 100, y = 50

B. x = 50, y = 100

C. x = 200, y = 0

D. x = 0, y = 200

Correct Answer

Correct Option:

x = 100, y = 50

About This Question

This is Post Utme Al Hikmah University 2024 Economics Question 25. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.

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