Post Utme Ims U 2022 Economics Question 32

Practice objective / multiple choice question 32 from the 2022 Post Utme Ims U Economics examination.

Post Utme Ims U 2022 Economics Objective / Multiple Choice

Question 32 POST_UTME_IMS_U • 2022 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x^0.5y^0.5. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of x and y?

Correct Answer A. x = 20, y = 10

B. x = 15, y = 15

C. x = 10, y = 20

D. x = 5, y = 25

Correct Answer

Correct Option:

x = 20, y = 10

This is Post Utme Ims U 2022 Economics Question 32. It is one of the objective questions from the 2022 Post Utme Ims U Economics examination.

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