Post Utme Ims U 2019 Economics Question 24

Practice objective / multiple choice question 24 from the 2019 Post Utme Ims U Economics examination.

Post Utme Ims U 2019 Economics Objective / Multiple Choice

Question 24 POST_UTME_IMS_U • 2019 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦100 and the prices of the two goods are ₦20 and ₦30 respectively, what is the consumer's optimal bundle?

A. x = 2, y = 3

Correct Answer B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 3, y = 2

This is Post Utme Ims U 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Ims U Economics examination.

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