Post Utme Lasu 2017 Commerce Question 19

Practice objective / multiple choice question 19 from the 2017 Post Utme Lasu Commerce examination.

Post Utme Lasu 2017 Commerce Objective / Multiple Choice
Question 19 POST_UTME_LASU • 2017 • COMMERCE • objective

A consumer's utility function for two goods, X and Y, is given by the equation (U = 2X + 3Y). If the consumer's income is ₦1000 and the prices of X and Y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle of X and Y?

Answer Options

A. (X=100, Y=0)
Correct Answer B. (X=80, Y=20)
C. (X=60, Y=40)
D. (X=40, Y=60)
Correct Answer
B
Correct Option:
(X=80, Y=20)

About This Question

This is Post Utme Lasu 2017 Commerce Question 19. It is one of the objective questions from the 2017 Post Utme Lasu Commerce examination.

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