Post Utme Lautech 2018 Commerce Question 13

Practice objective / multiple choice question 13 from the 2018 Post Utme Lautech Commerce examination.

Post Utme Lautech 2018 Commerce Objective / Multiple Choice

Question 13 POST_UTME_LAUTECH • 2018 • COMMERCE • objective

A consumer has a budget of ₦1000 and wants to buy two goods, X and Y. The prices of the goods are ₦200 and ₦300 respectively. If the consumer's indifference curve is given by U = 2X^0.5Y^0.5, what is the optimal combination of X and Y?

Answer Options

A. X = 2, Y = 3

Correct Answer B. X = 3, Y = 2

C. X = 4, Y = 1

D. X = 1, Y = 4

Correct Answer

Correct Option:

X = 3, Y = 2

About This Question

This is Post Utme Lautech 2018 Commerce Question 13. It is one of the objective questions from the 2018 Post Utme Lautech Commerce examination.

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