Post Utme Eksu 2021 Economics Question 27

Practice objective / multiple choice question 27 from the 2021 Post Utme Eksu Economics examination.

Post Utme Eksu 2021 Economics Objective / Multiple Choice

Question 27 POST_UTME_EKSU • 2021 • ECONOMICS • objective

A consumer's utility function is given by U = 2x^0.5y^0.5. If the price of good x is ₦50 and the price of good y is ₦100, and if the consumer's income is ₦1000, what is the optimal level of good x (x) and good y (y) that the consumer should purchase?

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 3

D. x = 20, y = 2

Correct Answer

Correct Option:

x = 10, y = 5

This is Post Utme Eksu 2021 Economics Question 27. It is one of the objective questions from the 2021 Post Utme Eksu Economics examination.

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