Post Utme Futa 2022 Economics Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Futa Economics examination.

Post Utme Futa 2022 Economics Objective / Multiple Choice

Question 1 POST_UTME_FUTA • 2022 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( u(x,y) = 2x + 3y ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, find the consumer's optimal bundle.

A. 10 units of x and 5 units of y

Correct Answer B. 15 units of x and 3 units of y

C. 20 units of x and 2 units of y

D. 25 units of x and 1 unit of y

Correct Answer

Correct Option:

15 units of x and 3 units of y

This is Post Utme Futa 2022 Economics Question 1. It is one of the objective questions from the 2022 Post Utme Futa Economics examination.

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