Post Utme Ims U 2023 Economics Question 9

Practice objective / multiple choice question 9 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice

Question 9 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A consumer's indifference curve is given by the equation ( u(x,y) = 2x + 3y ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, find the consumer's optimal bundle of x and y.

Correct Answer A. x = 40, y = 20

B. x = 30, y = 30

C. x = 20, y = 40

D. x = 10, y = 50

Correct Answer

Correct Option:

x = 40, y = 20

This is Post Utme Ims U 2023 Economics Question 9. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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