Post Utme Noun 2022 Economics Question 20

Practice objective / multiple choice question 20 from the 2022 Post Utme Noun Economics examination.

Post Utme Noun 2022 Economics Objective / Multiple Choice

Question 20 POST_UTME_NOUN • 2022 • ECONOMICS • objective

A consumer's utility function is given by U = 2x^0.5y^0.5. If the consumer's income is ₦1,000 and the prices of x and y are ₦10 and ₦20 respectively, find the consumer's optimal bundle of x and y.

Correct Answer A. \( x = 10, y = 5 \)

B. \( x = 5, y = 10 \)

C. \( x = 20, y = 2 \)

D. \( x = 15, y = 3 \)

Correct Answer

Correct Option:

\( x = 10, y = 5 \)

This is Post Utme Noun 2022 Economics Question 20. It is one of the objective questions from the 2022 Post Utme Noun Economics examination.

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