Post Utme Rhema University 2022 Economics Question 6

Practice objective / multiple choice question 6 from the 2022 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2022 Economics Objective / Multiple Choice
Question 6 POST_UTME_RHEMA_UNIVERSITY • 2022 • ECONOMICS • objective

Consider a consumer with a utility function U(x,y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the optimal bundle of x and y?

Answer Options

A. (100, 100)
Correct Answer B. (200, 50)
C. (50, 200)
D. (0, 0)
Correct Answer
B
Correct Option:
(200, 50)

About This Question

This is Post Utme Rhema University 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.

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