Post Utme Ims U 2018 Economics Question 26

Practice objective / multiple choice question 26 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 26 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

Consider a consumer with a utility function U(x,y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle of x and y?

Answer Options

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

About This Question

This is Post Utme Ims U 2018 Economics Question 26. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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