Post Utme Lasu 2020 Economics Question 37

Practice objective / multiple choice question 37 from the 2020 Post Utme Lasu Economics examination.

Post Utme Lasu 2020 Economics Objective / Multiple Choice

Question 37 POST_UTME_LASU • 2020 • ECONOMICS • objective

A consumer's indifference curve is given by the equation u(x, y) = 2x + 3y. If the consumer's initial \endowment is (x0, y0) = (10, 20), what is the consumer's optimal bundle?

Correct Answer A. x = 5, y = 15

B. x = 10, y = 10

C. x = 15, y = 5

D. x = 20, y = 0

Correct Answer

Correct Option:

x = 5, y = 15

This is Post Utme Lasu 2020 Economics Question 37. It is one of the objective questions from the 2020 Post Utme Lasu 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