Post Utme Coal City University 2023 Economics Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2023 Economics Objective / Multiple Choice

Question 26 POST_UTME_COAL_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer has the following 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, what is the optimal bundle of x and y?

Answer Options

A. x = 5, y = 3

B. x = 3, y = 5

Correct Answer C. x = 4, y = 4

D. x = 2, y = 6

Correct Answer

Correct Option:

x = 4, y = 4

About This Question

This is Post Utme Coal City University 2023 Economics Question 26. It is one of the objective questions from the 2023 Post Utme Coal City University Economics examination.

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