Post Utme Futo 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Futo Economics examination.

Post Utme Futo 2022 Economics Objective / Multiple Choice
Question 2 POST_UTME_FUTO • 2022 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is 100 and the prices of x and y are 5 and 10 respectively, what is the consumer's optimal consumption bundle?

Answer Options

Correct Answer A. (x, y) = (20, 10)
B. (x, y) = (15, 15)
C. (x, y) = (10, 20)
D. (x, y) = (25, 5)
Correct Answer
A
Correct Option:
(x, y) = (20, 10)

About This Question

This is Post Utme Futo 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Futo Economics examination.

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