Post Utme Caleb University 2020 Economics Question 36
Practice objective / multiple choice question 36 from the 2020 Post Utme Caleb University Economics examination.
Consider a consumer with a utility function U(x,y) = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦3 respectively, determine the optimal quantities of the two goods that the consumer will purchase.
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About This Question
This is Post Utme Caleb University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Caleb University Economics examination.
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