Post Utme Futa 2020 Economics Question 9

Practice objective / multiple choice question 9 from the 2020 Post Utme Futa Economics examination.

Post Utme Futa 2020 Economics Objective / Multiple Choice

Question 9 POST_UTME_FUTA • 2020 • ECONOMICS • objective

A consumer has the following utility function: U = x^2 + 2y^2. The prices of x and y are ₦20 and ₦30, respectively. If the consumer's income is ₦100, what is the optimal bundle of x and y?

A. x = 5, y = 2

Correct Answer B. x = 10, y = 5

C. x = 15, y = 3

D. x = 20, y = 4

Correct Answer

Correct Option:

x = 10, y = 5

This is Post Utme Futa 2020 Economics Question 9. It is one of the objective questions from the 2020 Post Utme Futa Economics examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support