Post Utme Rhema University 2017 Economics Question 10

Practice objective / multiple choice question 10 from the 2017 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2017 Economics Objective / Multiple Choice

Question 10 POST_UTME_RHEMA_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer has a utility function U = 2Q1 + 3Q2. If the prices are Q1 = ₦10, Q2 = ₦20, and the consumer's income is ₦1000, find the consumer's optimal bundle.

Answer Options

Correct Answer A. Q1 = 100 units, Q2 = 50 units

B. Q1 = 50 units, Q2 = 75 units

C. Q1 = 0 units, Q2 = 100 units

D. Q1 = 75 units, Q2 = 25 units

Correct Answer

Correct Option:

Q1 = 100 units, Q2 = 50 units

About This Question

This is Post Utme Rhema University 2017 Economics Question 10. It is one of the objective questions from the 2017 Post Utme Rhema University Economics examination.

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