Post Utme Coal City University 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by U = 2X + 3Y. If the prices of X and Y are ₦50 and ₦75 respectively, find the consumer's optimal bundle.

Answer Options

Correct Answer A. X = 2 units, Y = 1 unit
B. X = 1 unit, Y = 2 units
C. X = 3 units, Y = 0 units
D. X = 0 units, Y = 3 units
Correct Answer
A
Correct Option:
X = 2 units, Y = 1 unit

About This Question

This is Post Utme Coal City University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Coal City University Economics examination.

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