Post Utme Redeemers University 2022 Economics Question 35

Practice objective / multiple choice question 35 from the 2022 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2022 Economics Objective / Multiple Choice
Question 35 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a budget of ₦1000 and a utility function U(x,y) = 2x + 3y. The prices of x and y are ₦5 and ₦3 respectively. What is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 40, y = 60
B. x = 60, y = 40
C. x = 80, y = 20
D. x = 20, y = 80
Correct Answer
A
Correct Option:
x = 40, y = 60

About This Question

This is Post Utme Redeemers University 2022 Economics Question 35. It is one of the objective questions from the 2022 Post Utme Redeemers University Economics examination.

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