Post Utme Caleb University 2017 Economics Question 18

Practice objective / multiple choice question 18 from the 2017 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2017 Economics Objective / Multiple Choice

Question 18 POST_UTME_CALEB_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's income is ₦100 and the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 3

D. x = 20, y = 2

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Caleb University 2017 Economics Question 18. It is one of the objective questions from the 2017 Post Utme Caleb University Economics examination.

View More Post Utme Caleb University 2017 Economics Questions More Post Utme Caleb 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