Post Utme Babcock University 2020 Economics Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2020 Economics Objective / Multiple Choice
Question 19 POST_UTME_BABCOCK_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's utility function is given by U = 2X + 3Y. If the consumer's income is ₦1,000 and the prices of X and Y are ₦50 and ₦75 respectively, what is the consumer's optimal bundle?

Answer Options

A. X = 10, Y = 5
Correct Answer B. X = 15, Y = 10
C. X = 20, Y = 15
D. X = 25, Y = 20
Correct Answer
B
Correct Option:
X = 15, Y = 10

About This Question

This is Post Utme Babcock University 2020 Economics Question 19. It is one of the objective questions from the 2020 Post Utme Babcock University Economics examination.

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