Post Utme Noun 2023 Economics Question 25

Practice objective / multiple choice question 25 from the 2023 Post Utme Noun Economics examination.

Post Utme Noun 2023 Economics Objective / Multiple Choice
Question 25 POST_UTME_NOUN • 2023 • ECONOMICS • objective

A consumer has a utility function given by the equation U = 2x + 3y, where x is the quantity of good A and y is the quantity of good B. If the consumer's budget is ₦1000 and the prices of good A and good B are ₦200 and ₦300 respectively, what is the optimal bundle of goods for the consumer?

Answer Options

Correct Answer A. good A: 2 units, good B: 1 unit
B. good A: 3 units, good B: 2 units
C. good A: 4 units, good B: 3 units
D. good A: 5 units, good B: 4 units
Correct Answer
A
Correct Option:
good A: 2 units, good B: 1 unit

About This Question

This is Post Utme Noun 2023 Economics Question 25. It is one of the objective questions from the 2023 Post Utme Noun Economics examination.

View More Post Utme Noun 2023 Economics Questions More Post Utme Noun Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support