Post Utme Igbinedion University 2024 Economics Question 32

Practice objective / multiple choice question 32 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 32 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has a budget of 100 naira and faces the following prices: q1 = 5 naira, q2 = 10 naira, q3 = 15 naira. If the consumer's indifference curves are given by the equation u = 2q1 + q2 + q3, find the optimal bundle of goods.

Answer Options

Correct Answer A. q1 = 10, q2 = 20, q3 = 30
B. q1 = 20, q2 = 10, q3 = 30
C. q1 = 30, q2 = 20, q3 = 10
D. q1 = 20, q2 = 30, q3 = 10
Correct Answer
A
Correct Option:
q1 = 10, q2 = 20, q3 = 30

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 32. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

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