Post Utme Bowen University 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2020 Economics Objective / Multiple Choice

Question 18 POST_UTME_BOWEN_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer has a budget of ₦10,000 and a utility function given by U = 2x + 3y, where x and y are the quantities of two goods. If the prices of the two goods are ₦5 and ₦3 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 2, y = 3

B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 2, y = 3

About This Question

This is Post Utme Bowen University 2020 Economics Question 18. It is one of the objective questions from the 2020 Post Utme Bowen University Economics examination.

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