Post Utme Ims U 2023 Economics Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice

Question 31 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A consumer has a utility function U = 2x + 3y, where x and y are the quantities of two goods. If the consumer's budget is 100 and the prices of the two goods are 5 and 10 respectively, what is the consumer's optimal bundle?

Correct Answer A. x = 10, y = 20

B. x = 20, y = 10

C. x = 15, y = 15

D. x = 5, y = 25

Correct Answer

Correct Option:

x = 10, y = 20

This is Post Utme Ims U 2023 Economics Question 31. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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