Post Utme Elizade University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2020 Economics Objective / Multiple Choice

Question 36 POST_UTME_ELIZADE_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( U(x,y) = 2x + 3y ). If the consumer's initial \endowment is \( x_0, y_0 \ \) = (10, 15) ), and the price of good x is \( P_x = 2 \), find the consumer's optimal bundle of goods x and y.

Answer Options

Correct Answer A. x = 5, y = 10

B. x = 10, y = 5

C. x = 15, y = 0

D. x = 0, y = 15

Correct Answer

Correct Option:

x = 5, y = 10

About This Question

This is Post Utme Elizade University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Elizade University Economics examination.

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