Post Utme Ims U 2022 Economics Question 22

Practice objective / multiple choice question 22 from the 2022 Post Utme Ims U Economics examination.

Post Utme Ims U 2022 Economics Objective / Multiple Choice
Question 22 POST_UTME_IMS_U • 2022 • ECONOMICS • objective

A consumer has the following utility function: U(x, y) = 2x + 3y. If the consumer's income is 100, and the prices of x and y are 5 and 10 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 10, y = 5
B. x = 5, y = 10
C. x = 15, y = 0
D. x = 0, y = 15
Correct Answer
A
Correct Option:
x = 10, y = 5

About This Question

This is Post Utme Ims U 2022 Economics Question 22. It is one of the objective questions from the 2022 Post Utme Ims U Economics examination.

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