Post Utme Bowen University 2022 Economics Question 20

Practice objective / multiple choice question 20 from the 2022 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2022 Economics Objective / Multiple Choice

Question 20 POST_UTME_BOWEN_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a budget constraint of ₦1000 and a utility function U(x, y) = 2x + 3y. If the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal consumption bundle?

Answer Options

A. x = 80, y = 100

Correct Answer B. x = 100, y = 80

C. x = 120, y = 60

D. x = 60, y = 120

Correct Answer

Correct Option:

x = 100, y = 80

About This Question

This is Post Utme Bowen University 2022 Economics Question 20. It is one of the objective questions from the 2022 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2022 Economics Questions More Post Utme Bowen University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support