Post Utme Futo 2024 Economics Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Futo Economics examination.

Post Utme Futo 2024 Economics Objective / Multiple Choice
Question 7 POST_UTME_FUTO • 2024 • ECONOMICS • objective

A consumer is faced with the following utility function: U(x, y) = 2x + 3y. The consumer's income is ₦1000, and the prices of x and y are ₦5 and ₦10, respectively. What is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. x = 40, y = 20
B. x = 30, y = 30
C. x = 20, y = 40
D. x = 10, y = 50
Correct Answer
A
Correct Option:
x = 40, y = 20

About This Question

This is Post Utme Futo 2024 Economics Question 7. It is one of the objective questions from the 2024 Post Utme Futo Economics examination.

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