Post Utme Noun 2020 Commerce Question 5
Practice objective / multiple choice question 5 from the 2020 Post Utme Noun Commerce examination.
A consumer has a utility function given by U = 2Q1 + 3Q2, where Q1 and Q2 are the quantities of two goods consumed. If the prices of Q1 and Q2 are ₦200 and ₦300 respectively, and the consumer's income is ₦1000, what is the maximum amount they can spend on Q2?
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About This Question
This is Post Utme Noun 2020 Commerce Question 5. It is one of the objective questions from the 2020 Post Utme Noun Commerce examination.
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