Post Utme Ims U 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Ims U Economics examination.

Post Utme Ims U 2017 Economics Objective / Multiple Choice

Question 1 POST_UTME_IMS_U • 2017 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( U(x,y) = 2x + 3y ). If the consumer's income is ₦1000 and the price of good x is ₦5, find the optimal bundle of goods x and y.

A. (x,y) = (100, 100)

Correct Answer B. (x,y) = (80, 120)

C. (x,y) = (120, 80)

D. (x,y) = (60, 140)

Correct Answer

Correct Option:

(x,y) = (80, 120)

This is Post Utme Ims U 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Ims U Economics examination.

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