Post Utme Caleb University 2017 Economics Question 33

Practice objective / multiple choice question 33 from the 2017 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2017 Economics Objective / Multiple Choice

Question 33 POST_UTME_CALEB_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer has the following indifference curves: IC1: 2U = 3X + 4Y, IC2: 2U = 5X + 2Y. If the consumer's budget constraint is given by 2X + 3Y = 12, what is the consumer's optimal consumption bundle?

Answer Options

Correct Answer A. X = 3, Y = 2

B. X = 2, Y = 3

C. X = 4, Y = 1

D. X = 1, Y = 4

Correct Answer

Correct Option:

X = 3, Y = 2

About This Question

This is Post Utme Caleb University 2017 Economics Question 33. It is one of the objective questions from the 2017 Post Utme Caleb University Economics examination.

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