Post Utme Crawford University 2024 Commerce Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2024 Commerce Objective / Multiple Choice
Question 13 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • COMMERCE • objective

A consumer has a budget of ₦10,000 and is considering purchasing two different products, A and B. Product A costs ₦5,000 and has a utility of 10, while product B costs ₦3,000 and has a utility of 8. What is the consumer's optimal consumption plan?

Answer Options

Correct Answer A. Buy 1 unit of product A and 1 unit of product B
B. Buy 2 units of product A and 0 units of product B
C. Buy 0 units of product A and 3 units of product B
D. Buy 1 unit of product A and 2 units of product B
Correct Answer
A
Correct Option:
Buy 1 unit of product A and 1 unit of product B

About This Question

This is Post Utme Crawford University 2024 Commerce Question 13. It is one of the objective questions from the 2024 Post Utme Crawford University Commerce examination.

View More Post Utme Crawford University 2024 Commerce Questions More Post Utme Crawford University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support