Post Utme Lautech 2022 Economics Question 12
Practice objective / multiple choice question 12 from the 2022 Post Utme Lautech Economics examination.
A consumer has a utility function U(x,y) = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the consumer's optimal bundle of goods?
Answer Options
About This Question
This is Post Utme Lautech 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Lautech Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.