Post Utme Bsu 2024 Economics Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Bsu Economics examination.

Post Utme Bsu 2024 Economics Objective / Multiple Choice

Question 24 POST_UTME_BSU • 2024 • ECONOMICS • objective

A consumer's indifference curve is represented by the equation u(x,y) = x^2 + 2y^2. If the consumer's initial \endowment is (x0, y0) = (10, 20), and the price of good x is ₦5, while the price of good y is ₦3, what is the consumer's optimal bundle?

Correct Answer A. x = 5, y = 10

B. x = 10, y = 5

C. x = 15, y = 0

D. x = 0, y = 15

Correct Answer

Correct Option:

x = 5, y = 10

This is Post Utme Bsu 2024 Economics Question 24. It is one of the objective questions from the 2024 Post Utme Bsu Economics examination.

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