Post Utme Lautech 2022 Economics Question 23
Practice objective / multiple choice question 23 from the 2022 Post Utme Lautech Economics examination.
A consumer's indifference curve is given by the equation u(x,y) = 2x + 3y, where u is the utility function, x is the quantity of good X consumed, and y is the quantity of good Y consumed. If the consumer's income is $100, and the prices of good X and good Y are $5 and $10 respectively, what is the consumer's optimal consumption bundle?
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This is Post Utme Lautech 2022 Economics Question 23. It is one of the objective questions from the 2022 Post Utme Lautech Economics examination.
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