Post Utme Redeemers University 2020 Economics Question 28

Practice objective / multiple choice question 28 from the 2020 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2020 Economics Objective / Multiple Choice
Question 28 POST_UTME_REDEEMERS_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the prices of x and y are $2 and $3 respectively, and the consumer has a budget of $10, what is the optimal bundle?

Answer Options

A. (2, 2)
Correct Answer B. (3, 1)
C. (4, 0)
D. (0, 4)
Correct Answer
B
Correct Option:
(3, 1)

About This Question

This is Post Utme Redeemers University 2020 Economics Question 28. It is one of the objective questions from the 2020 Post Utme Redeemers University Economics examination.

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