Post Utme Nile University 2025 Economics Question 11

Practice objective / multiple choice question 11 from the 2025 Post Utme Nile University Economics examination.

Post Utme Nile University 2025 Economics Objective / Multiple Choice
Question 11 POST_UTME_NILE_UNIVERSITY • 2025 • ECONOMICS • objective

A consumer's utility function is given by ( U(x,y) = 10\log_{10}(x) + 20\log_{10}(y) ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, find the optimal bundle of x and y u\sing Lagrange multipliers.

Answer Options

Correct Answer A. x = 10, y = 5
B. x = 20, y = 2
C. x = 5, y = 10
D. x = 15, y = 3
Correct Answer
A
Correct Option:
x = 10, y = 5

About This Question

This is Post Utme Nile University 2025 Economics Question 11. It is one of the objective questions from the 2025 Post Utme Nile University Economics examination.

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