Post Utme Lead City University 2021 Economics Question 6

Practice objective / multiple choice question 6 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice

Question 6 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • 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 x and y are ₦5 and ₦10 respectively, find the consumer's optimal bundle of x and y.

Answer Options

Correct Answer A. x = 40, y = 20

B. x = 30, y = 30

C. x = 20, y = 40

D. x = 50, y = 10

Correct Answer

Correct Option:

x = 40, y = 20

About This Question

This is Post Utme Lead City University 2021 Economics Question 6. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

View More Post Utme Lead City University 2021 Economics Questions More Post Utme Lead City University Practice Questions Back to Questions

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