Post Utme Ims U 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 3 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( U(x,y) = 2x + 3y ). If the consumer's income is ₦1,200 and the prices of x and y are ₦50 and ₦75 respectively, what is the consumer's optimal bundle?

Answer Options

A. (20, 16)
Correct Answer B. (24, 12)
C. (28, 8)
D. (32, 4)
Correct Answer
B
Correct Option:
(24, 12)

About This Question

This is Post Utme Ims U 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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