Post Utme Redeemers University 2020 Commerce Question 19
Practice objective / multiple choice question 19 from the 2020 Post Utme Redeemers University Commerce examination.
A consumer has a utility function given by U = x^2 + 2y, where x and y are the quantities of two goods consumed. If the price of good x is ₦50 per unit and the price of good y is ₦100 per unit, and the consumer's income is ₦1000, what is the optimal bundle of goods?
Answer Options
About This Question
This is Post Utme Redeemers University 2020 Commerce Question 19. It is one of the objective questions from the 2020 Post Utme Redeemers University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.