Post Utme Osustech 2020 Commerce Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Osustech Commerce examination.

Post Utme Osustech 2020 Commerce Objective / Multiple Choice

Question 30 POST_UTME_OSUSTECH • 2020 • COMMERCE • objective

A consumer has a utility function given by U = 2X + 3Y, where X and Y are the quantities of two goods consumed. If the consumer's income is 100 units of currency and the prices of X and Y are 5 units and 10 units, respectively, what is the optimal bundle of goods that maximizes utility?

Answer Options

Correct Answer A. X = 20, Y = 10

B. X = 15, Y = 15

C. X = 10, Y = 20

D. X = 5, Y = 25

Correct Answer

Correct Option:

X = 20, Y = 10

About This Question

This is Post Utme Osustech 2020 Commerce Question 30. It is one of the objective questions from the 2020 Post Utme Osustech Commerce examination.

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