Post Utme Pan Atlantic University 2024 Economics Question 5

Practice objective / multiple choice question 5 from the 2024 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2024 Economics Objective / Multiple Choice
Question 5 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has a utility function given by U = 2X + 3Y, where X and Y are the quantities of two goods. If the consumer's income is ₦1000 and the prices of the two goods are ₦200 and ₦300 respectively, what is the optimal bundle?

Answer Options

A. (2, 1)
Correct Answer B. (4, 2)
C. (6, 3)
D. (8, 4)
Correct Answer
B
Correct Option:
(4, 2)

About This Question

This is Post Utme Pan Atlantic University 2024 Economics Question 5. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Economics examination.

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