Post Utme Rsu 2022 Economics Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Rsu Economics examination.

Post Utme Rsu 2022 Economics Objective / Multiple Choice
Question 10 POST_UTME_RSU • 2022 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are ₦20 and ₦30 respectively, find the elasticity of demand.

Answer Options

A. Unit elastic
Correct Answer B. Inelastic
C. Perfectly elastic
D. Perfectly inelastic
Correct Answer
B
Correct Option:
Inelastic

About This Question

This is Post Utme Rsu 2022 Economics Question 10. It is one of the objective questions from the 2022 Post Utme Rsu Economics examination.

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