Post Utme Lead City University 2023 Economics Question 39

Practice objective / multiple choice question 39 from the 2023 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2023 Economics Objective / Multiple Choice

Question 39 POST_UTME_LEAD_CITY_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's current budget is ₦1,000 and the prices of x and y are ₦5 and ₦10 respectively, then the consumer's optimal consumption bundle is:

Answer Options

Correct Answer A. x = 40, y = 20

B. x = 30, y = 30

C. x = 20, y = 40

D. x = 10, y = 50

Correct Answer

Correct Option:

x = 40, y = 20

About This Question

This is Post Utme Lead City University 2023 Economics Question 39. It is one of the objective questions from the 2023 Post Utme Lead City University Economics examination.

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