Post Utme Lasu 2018 Economics Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Lasu Economics examination.

Post Utme Lasu 2018 Economics Objective / Multiple Choice

Question 8 POST_UTME_LASU • 2018 • ECONOMICS • objective

A consumer has the following utility function: U(x, y) = 2x + 3y. If the consumer's income is ₦100 and the prices of x and y are ₦20 and ₦30 respectively, what is the consumer's optimal bundle of x and y?

Correct Answer A. x = 2, y = 1

B. x = 3, y = 2

C. x = 4, y = 3

D. x = 5, y = 4

Correct Answer

Correct Option:

x = 2, y = 1

This is Post Utme Lasu 2018 Economics Question 8. It is one of the objective questions from the 2018 Post Utme Lasu Economics examination.

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