Post Utme Igbinedion University 2020 Economics Question 14

Practice objective / multiple choice question 14 from the 2020 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2020 Economics Objective / Multiple Choice

Question 14 POST_UTME_IGBINEDION_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 12. If the price of good x is ₦2 and the price of good y is ₦3, what is the consumer's optimal bundle of goods?

Answer Options

Correct Answer A. x = 2, y = 4

B. x = 4, y = 2

C. x = 6, y = 0

D. x = 0, y = 4

Correct Answer

Correct Option:

x = 2, y = 4

About This Question

This is Post Utme Igbinedion University 2020 Economics Question 14. It is one of the objective questions from the 2020 Post Utme Igbinedion University Economics examination.

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