Post Utme Lead City University 2022 Economics Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice
Question 12 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = ₦100, where x and y are the quantities of two goods. If the consumer's indifference curve is given by u = 2x^0.5y^0.5, what is the consumer's optimal bundle of goods?

Answer Options

A. x = 20, y = 10
B. x = 30, y = 15
Correct Answer C. x = 40, y = 20
D. x = 50, y = 25
Correct Answer
C
Correct Option:
x = 40, y = 20

About This Question

This is Post Utme Lead City University 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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