Post Utme Mountain Top University 2017 Economics Question 15

Practice objective / multiple choice question 15 from the 2017 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2017 Economics Objective / Multiple Choice

Question 15 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer has an income of ₦1000 and faces a budget constraint given by P1x + P2y = 1000. If P1 = ₦200 and P2 = ₦300, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. \( x = 2, y = 3 \)

B. \( x = 3, y = 2 \)

C. \( x = 4, y = 1 \)

D. \( x = 1, y = 4 \)

Correct Answer

Correct Option:

\( x = 2, y = 3 \)

About This Question

This is Post Utme Mountain Top University 2017 Economics Question 15. It is one of the objective questions from the 2017 Post Utme Mountain Top University Economics examination.

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