Post Utme Elizade University 2018 Economics Question 37

Practice objective / multiple choice question 37 from the 2018 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2018 Economics Objective / Multiple Choice
Question 37 POST_UTME_ELIZADE_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's utility function is given by U(x,y) = 2x + 3y. If the consumer's income is ₦1000, and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle?

Answer Options

A. (10,20)
B. (20,10)
Correct Answer C. (15,15)
D. (25,5)
Correct Answer
C
Correct Option:
(15,15)

About This Question

This is Post Utme Elizade University 2018 Economics Question 37. It is one of the objective questions from the 2018 Post Utme Elizade University Economics examination.

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