Post Utme Joseph Ayo Babalola University 2017 Economics Question 10
Practice objective / multiple choice question 10 from the 2017 Post Utme Joseph Ayo Babalola University Economics examination.
A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000, and the prices of the two goods are ₦2 and ₦3 respectively, what is the consumer's optimal bundle of goods?
Answer Options
About This Question
This is Post Utme Joseph Ayo Babalola University 2017 Economics Question 10. It is one of the objective questions from the 2017 Post Utme Joseph Ayo Babalola University Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.