Post Utme Coal City University 2024 Commerce Question 10

Practice objective / multiple choice question 10 from the 2024 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2024 Commerce Objective / Multiple Choice
Question 10 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • COMMERCE • objective

A consumer has a utility function given by U = 2X + 3Y. The prices of X and Y are 5 and 10 respectively. If the consumer's income is 100, what is the optimal bundle of X and Y?

Answer Options

A. X = 10, Y = 5
Correct Answer B. X = 15, Y = 3
C. X = 20, Y = 2
D. X = 25, Y = 1
Correct Answer
B
Correct Option:
X = 15, Y = 3

About This Question

This is Post Utme Coal City University 2024 Commerce Question 10. It is one of the objective questions from the 2024 Post Utme Coal City University Commerce examination.

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