Post Utme Ksu 2021 Economics Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Ksu Economics examination.

Post Utme Ksu 2021 Economics Objective / Multiple Choice

Question 7 POST_UTME_KSU • 2021 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?

A. x = 40, y = 20

Correct Answer B. x = 30, y = 30

C. x = 20, y = 40

D. x = 10, y = 50

Correct Answer

Correct Option:

x = 30, y = 30

This is Post Utme Ksu 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Ksu Economics examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support