Post Utme Caleb University 2023 Economics Question 11
Practice objective / multiple choice question 11 from the 2023 Post Utme Caleb University Economics examination.
A consumer's indifference curve is given by the equation u(x, y) = 2x + 3y. If the consumer's initial \endowment is (x0, y0) = (10, 20), and the price of good x is p_x = 2, while the price of good y is p_y = 3, what is the consumer's optimal bundle?
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This is Post Utme Caleb University 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Caleb University Economics examination.
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