Post Utme Redeemers University 2024 Commerce Question 19
Practice objective / multiple choice question 19 from the 2024 Post Utme Redeemers University Commerce examination.
A consumer has a budget constraint of ₦1,000, and the prices of two goods are ₦200 and ₦300, respectively. If the consumer's indifference curve is given by the equation ( U = 2x + 3y ), where x and y are the quantities of the two goods consumed, and the consumer's initial bundle of goods is x = 2, y = 3, what is the consumer's optimal bundle of goods after a price increase?
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This is Post Utme Redeemers University 2024 Commerce Question 19. It is one of the objective questions from the 2024 Post Utme Redeemers University Commerce examination.
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