Post Utme Esut 2024 Economics Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Esut Economics examination.

Post Utme Esut 2024 Economics Objective / Multiple Choice
Question 3 POST_UTME_ESUT • 2024 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?

Answer Options

Correct Answer A. x = 100, y = 50
B. x = 50, y = 100
C. x = 200, y = 0
D. x = 0, y = 200
Correct Answer
A
Correct Option:
x = 100, y = 50

About This Question

This is Post Utme Esut 2024 Economics Question 3. It is one of the objective questions from the 2024 Post Utme Esut Economics examination.

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