Post Utme Lead City University 2021 Economics Question 39

Practice objective / multiple choice question 39 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice
Question 39 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = $100. If the consumer's income is $100 and the prices of x and y are $5 and $10 respectively, what is the consumer's optimal bundle?

Answer Options

A. x = 20, y = 10
B. x = 15, y = 15
Correct Answer C. x = 10, y = 20
D. x = 5, y = 25
Correct Answer
C
Correct Option:
x = 10, y = 20

About This Question

This is Post Utme Lead City University 2021 Economics Question 39. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support