Post Utme Lead City University 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice
Question 2 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • 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 ₦3 respectively, determine the consumer's optimal bundle of x and y.

Answer Options

A. (20, 10)
Correct Answer B. (15, 15)
C. (10, 20)
D. (5, 30)
Correct Answer
B
Correct Option:
(15, 15)

About This Question

This is Post Utme Lead City University 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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