Post Utme Covenant University 2020 Economics Question 5

Practice objective / multiple choice question 5 from the 2020 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2020 Economics Objective / Multiple Choice

Question 5 POST_UTME_COVENANT_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's budget constraint is given by the equation 2x + 3y = 100, where x and y are the quantities of two goods consumed. Determine the consumer's optimal bundle of goods when the price of good x is ₦20 and the price of good y is ₦30.

Answer Options

Correct Answer A. x = 10, y = 20

B. x = 20, y = 10

C. x = 30, y = 5

D. x = 5, y = 30

Correct Answer

Correct Option:

x = 10, y = 20

About This Question

This is Post Utme Covenant University 2020 Economics Question 5. It is one of the objective questions from the 2020 Post Utme Covenant University Economics examination.

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