Post Utme Osustech 2023 Economics Question 19

Practice objective / multiple choice question 19 from the 2023 Post Utme Osustech Economics examination.

Post Utme Osustech 2023 Economics Objective / Multiple Choice
Question 19 POST_UTME_OSUSTECH • 2023 • ECONOMICS • objective

A consumer's utility function is given by ( U(x,y) = \sqrt{x^2 + y^2} ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, find the optimal bundle of x and y u\sing the budget constraint.

Answer Options

Correct Answer A. \( x = 40, y = 20 \)
B. \( x = 60, y = 10 \)
C. \( x = 80, y = 0 \)
D. \( x = 0, y = 33.33 \)
Correct Answer
A
Correct Option:
\( x = 40, y = 20 \)

About This Question

This is Post Utme Osustech 2023 Economics Question 19. It is one of the objective questions from the 2023 Post Utme Osustech Economics examination.

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