Post Utme Eksu 2018 Economics Question 18

Practice objective / multiple choice question 18 from the 2018 Post Utme Eksu Economics examination.

Post Utme Eksu 2018 Economics Objective / Multiple Choice
Question 18 POST_UTME_EKSU • 2018 • ECONOMICS • objective

A consumer has a budget of ₦1,000 and faces the following prices for two goods: good X \costs ₦200 and good Y \costs ₦300. If the consumer's utility function is U = 2X + 3Y, what is the optimal combination of goods X and Y that the consumer will choose?

Answer Options

Correct Answer A. \( X = 2, Y = 1 \)
B. \( X = 1, Y = 2 \)
C. \( X = 3, Y = 0 \)
D. \( X = 0, Y = 3 \)
Correct Answer
A
Correct Option:
\( X = 2, Y = 1 \)

About This Question

This is Post Utme Eksu 2018 Economics Question 18. It is one of the objective questions from the 2018 Post Utme Eksu Economics examination.

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