Post Utme Joseph Ayo Babalola University 2018 Economics Question 40
Practice objective / multiple choice question 40 from the 2018 Post Utme Joseph Ayo Babalola University Economics examination.
A consumer is faced with a budget constraint of ₦1,500 and a utility function of U = 2x + 3y, where x and y are the quantities of two goods. If the prices of the two goods are ₦50 and ₦75, respectively, what is the optimal bundle of goods that maximizes utility?
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This is Post Utme Joseph Ayo Babalola University 2018 Economics Question 40. It is one of the objective questions from the 2018 Post Utme Joseph Ayo Babalola University Economics examination.
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