Post Utme Coal City University 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2022 Economics Objective / Multiple Choice

Question 2 POST_UTME_COAL_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a utility function U(x,y) = 2x + 3y. If the prices of x and y are ₦10 and ₦20 respectively, and the consumer has a budget of ₦100, determine the optimal bundle of x and y.

Answer Options

Correct Answer A. x = 2, y = 3

B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 2, y = 3

About This Question

This is Post Utme Coal City University 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Coal City University Economics examination.

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