Post Utme Covenant University 2023 Commerce Question 22

Practice objective / multiple choice question 22 from the 2023 Post Utme Covenant University Commerce examination.

Post Utme Covenant University 2023 Commerce Objective / Multiple Choice
Question 22 POST_UTME_COVENANT_UNIVERSITY • 2023 • COMMERCE • objective

A consumer has a budget constraint of 100, and the prices of two goods are 5 and 10, respectively. If the consumer's indifference curve is tangent to the budget line, what is the consumer's optimal bundle?

Answer Options

A. 5 units of good 1 and 10 units of good 2
Correct Answer B. 10 units of good 1 and 5 units of good 2
C. 20 units of good 1 and 10 units of good 2
D. 10 units of good 1 and 20 units of good 2
Correct Answer
B
Correct Option:
10 units of good 1 and 5 units of good 2

About This Question

This is Post Utme Covenant University 2023 Commerce Question 22. It is one of the objective questions from the 2023 Post Utme Covenant University Commerce examination.

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