Post Utme Futa 2020 Economics Question 28

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

Post Utme Futa 2020 Economics Objective / Multiple Choice

Question 28 POST_UTME_FUTA • 2020 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦100 and the prices of the two goods are ₦20 and ₦30 respectively, what is the consumer's optimal bundle?

Correct Answer A. x = 2, y = 3

B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 2, y = 3

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

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