Post Utme Caleb University 2024 Economics Question 20
Practice objective / multiple choice question 20 from the 2024 Post Utme Caleb University Economics examination.
A consumer's budget constraint is given by P_x x + P_y y = I, where P_x and P_y are the prices of good x and good y, respectively, and I is the consumer's income. If the consumer's income is I = 100, and the prices of good x and good y are P_x = 2 and P_y = 3, respectively, calculate the consumer's optimal consumption bundle (x, y).
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This is Post Utme Caleb University 2024 Economics Question 20. It is one of the objective questions from the 2024 Post Utme Caleb University Economics examination.
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