Post Utme Lead City University 2019 Economics Question 32

Practice objective / multiple choice question 32 from the 2019 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2019 Economics Objective / Multiple Choice

Question 32 POST_UTME_LEAD_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, find the optimal bundle of x and y.

Answer Options

Correct Answer A. x = 40, y = 20

B. x = 20, y = 40

C. x = 30, y = 30

D. x = 50, y = 10

Correct Answer

Correct Option:

x = 40, y = 20

About This Question

This is Post Utme Lead City University 2019 Economics Question 32. It is one of the objective questions from the 2019 Post Utme Lead City University Economics examination.

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