Post Utme Esut 2024 Commerce Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Esut Commerce examination.

Post Utme Esut 2024 Commerce Objective / Multiple Choice

Question 4 POST_UTME_ESUT • 2024 • COMMERCE • objective

A consumer has a utility function given by U = 2X + 3Y, where X and Y are the quantities of two goods. If the consumer's income is ₦1,500 and the prices of X and Y are ₦500 and ₦300 respectively, what is the consumer's optimal bundle of goods?

Correct Answer A. X = 3, Y = 2

B. X = 2, Y = 3

C. X = 1, Y = 4

D. X = 4, Y = 1

Correct Answer

Correct Option:

X = 3, Y = 2

This is Post Utme Esut 2024 Commerce Question 4. It is one of the objective questions from the 2024 Post Utme Esut Commerce examination.

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