Post Utme Ims U 2021 Economics Question 17

Practice objective / multiple choice question 17 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 17 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A consumer's utility function is given by ( U(x,y) = 2x + 3y ). If the prices of x and y are $2 and $3 respectively, and the consumer has a budget of $15, what is the optimal bundle of x and y?

Answer Options

A. (5,5)
B. (10,0)
C. (0,10)
Correct Answer D. (7,3)
Correct Answer
D
Correct Option:
(7,3)

About This Question

This is Post Utme Ims U 2021 Economics Question 17. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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