Post Utme Esut 2020 Economics Question 28

Practice objective / multiple choice question 28 from the 2020 Post Utme Esut Economics examination.

Post Utme Esut 2020 Economics Objective / Multiple Choice

Question 28 POST_UTME_ESUT • 2020 • ECONOMICS • objective

A consumer has a budget of ₦1000 and faces the following prices for two goods: good X \costs ₦200 per unit and good Y \costs ₦300 per unit. The consumer's utility function is given by U = 2X + 3Y. What is the consumer's optimal consumption bundle?

Correct Answer A. X = 2, Y = 1

B. X = 3, Y = 2

C. X = 4, Y = 3

D. X = 5, Y = 4

Correct Answer

Correct Option:

X = 2, Y = 1

This is Post Utme Esut 2020 Economics Question 28. It is one of the objective questions from the 2020 Post Utme Esut Economics examination.

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