Post Utme Lasu 2018 Economics Question 23

Practice objective / multiple choice question 23 from the 2018 Post Utme Lasu Economics examination.

Post Utme Lasu 2018 Economics Objective / Multiple Choice
Question 23 POST_UTME_LASU • 2018 • ECONOMICS • objective

A consumer's utility function is given by U = 2X + 3Y, where X is the quantity of good X and Y is the quantity of good Y. If the consumer's income is ₦10,000 and the prices of good X and good Y are ₦2 and ₦3 respectively, what is the optimal bundle of goods?

Answer Options

Correct Answer A. \( X = 2, Y = 3 \)
B. \( X = 3, Y = 2 \)
C. \( X = 4, Y = 1 \)
D. \( X = 1, Y = 4 \)
Correct Answer
A
Correct Option:
\( X = 2, Y = 3 \)

About This Question

This is Post Utme Lasu 2018 Economics Question 23. It is one of the objective questions from the 2018 Post Utme Lasu Economics examination.

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