Post Utme Redeemers University 2024 Commerce Question 38
Practice objective / multiple choice question 38 from the 2024 Post Utme Redeemers University Commerce examination.
A consumer has a budget constraint given by P1x + P2y = 100, where P1 and P2 are the prices of two goods, and x and y are the quantities consumed. If the consumer has a utility function given by U(x, y) = 2x + 3y, and the prices of the two goods are P1 = 20 and P2 = 30, what is the value of the consumer's optimal bundle?
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This is Post Utme Redeemers University 2024 Commerce Question 38. It is one of the objective questions from the 2024 Post Utme Redeemers University Commerce examination.
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