Post Utme Nile University 2018 Economics Question 30

Practice objective / multiple choice question 30 from the 2018 Post Utme Nile University Economics examination.

Post Utme Nile University 2018 Economics Objective / Multiple Choice

Question 30 POST_UTME_NILE_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer has an income of ₦1000 and faces the following prices for two goods, X and Y: PX = ₦200 and PY = ₦300. The consumer's utility function is given by U = 2X + 3Y. Find the consumer's optimal consumption bundle and the marginal utility of good X.

Answer Options

Correct Answer A. X = 2, Y = 1, MU_X = 2

B. X = 1, Y = 2, MU_X = 3

C. X = 3, Y = 1, MU_X = 4

D. X = 1, Y = 3, MU_X = 5

Correct Answer

Correct Option:

X = 2, Y = 1, MU_X = 2

About This Question

This is Post Utme Nile University 2018 Economics Question 30. It is one of the objective questions from the 2018 Post Utme Nile University Economics examination.

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