Post Utme Caleb University 2019 Economics Question 10

Practice objective / multiple choice question 10 from the 2019 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2019 Economics Objective / Multiple Choice
Question 10 POST_UTME_CALEB_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's utility function is given by ( u(x,y) = xy ). If the consumer's income is ₦1000 and the prices of x and y are ₦2 and ₦3 respectively, what is the consumer's optimal bundle?

Answer Options

A. (10, 5)
Correct Answer B. (15, 3)
C. (20, 2)
D. (25, 1)
Correct Answer
B
Correct Option:
(15, 3)

About This Question

This is Post Utme Caleb University 2019 Economics Question 10. It is one of the objective questions from the 2019 Post Utme Caleb University Economics examination.

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