Post Utme Lautech 2024 Commerce Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Lautech Commerce examination.

Post Utme Lautech 2024 Commerce Objective / Multiple Choice

Question 15 POST_UTME_LAUTECH • 2024 • COMMERCE • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of the goods are ₦200 and ₦300 respectively, what is the optimal bundle of goods x and y?

Answer Options

Correct Answer A. x = 2, y = 3

B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 2, y = 3

About This Question

This is Post Utme Lautech 2024 Commerce Question 15. It is one of the objective questions from the 2024 Post Utme Lautech Commerce examination.

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