Post Utme Pan Atlantic University 2018 Economics Question 37

Practice objective / multiple choice question 37 from the 2018 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2018 Economics Objective / Multiple Choice
Question 37 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 40, y = 20
B. x = 30, y = 30
C. x = 20, y = 40
D. x = 10, y = 50
Correct Answer
A
Correct Option:
x = 40, y = 20

About This Question

This is Post Utme Pan Atlantic University 2018 Economics Question 37. It is one of the objective questions from the 2018 Post Utme Pan Atlantic University Economics examination.

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