Post Utme Bells University 2018 Economics Question 14

Practice objective / multiple choice question 14 from the 2018 Post Utme Bells University Economics examination.

Post Utme Bells University 2018 Economics Objective / Multiple Choice
Question 14 POST_UTME_BELLS_UNIVERSITY • 2018 • ECONOMICS • objective
Post Utme Bells University 2018 Economics Question 14 diagram

A consumer has a budget of ₦5,000 and faces the following price and quantity combinations for two goods: Good X: ₦1,000 per unit, Good Y: ₦2,000 per unit. If the consumer's indifference curves are convex to the origin, what is the optimal combination of goods X and Y?

Answer Options

A. Buy 2 units of Good X and 1 unit of Good Y
B. Buy 3 units of Good X and 0 units of Good Y
Correct Answer C. Buy 1 unit of Good X and 2 units of Good Y
D. Buy 0 units of Good X and 2 units of Good Y
Correct Answer
C
Correct Option:
Buy 1 unit of Good X and 2 units of Good Y

About This Question

This is Post Utme Bells University 2018 Economics Question 14. It is one of the objective questions from the 2018 Post Utme Bells University Economics examination.

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