Post Utme Pan Atlantic University 2023 Economics Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2023 Economics Objective / Multiple Choice
Question 32 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's indifference curve is represented by the equation 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

A. (x,y) = (10,20)
B. (x,y) = (20,10)
Correct Answer C. (x,y) = (15,15)
D. (x,y) = (5,5)
Correct Answer
C
Correct Option:
(x,y) = (15,15)

About This Question

This is Post Utme Pan Atlantic University 2023 Economics Question 32. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Economics examination.

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