Post Utme Redeemers University 2018 Economics Question 18

Practice objective / multiple choice question 18 from the 2018 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2018 Economics Objective / Multiple Choice

Question 18 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦1,000,000, and the prices of x and y are ₦500,000 and ₦200,000 respectively, find the consumer's optimal bundle.

Answer Options

Correct Answer A. x = 2, y = 1

B. x = 1, y = 2

C. x = 3, y = 0

D. x = 0, y = 3

Correct Answer

Correct Option:

x = 2, y = 1

About This Question

This is Post Utme Redeemers University 2018 Economics Question 18. It is one of the objective questions from the 2018 Post Utme Redeemers University Economics examination.

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