Post Utme Futo 2022 Economics Question 13

Practice objective / multiple choice question 13 from the 2022 Post Utme Futo Economics examination.

Post Utme Futo 2022 Economics Objective / Multiple Choice

Question 13 POST_UTME_FUTO • 2022 • ECONOMICS • objective

A consumer has an income of ₦1000 and faces a price of ₦10 for a good. The 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 budget constraint is given by 10X + 20Y = 1000, what is the consumer's optimal bundle?

Correct Answer A. X = 20, Y = 10

B. X = 30, Y = 15

C. X = 40, Y = 20

D. X = 50, Y = 25

Correct Answer

Correct Option:

X = 20, Y = 10

This is Post Utme Futo 2022 Economics Question 13. It is one of the objective questions from the 2022 Post Utme Futo Economics examination.

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