Post Utme Skyline University 2018 Economics Question 31

Practice objective / multiple choice question 31 from the 2018 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2018 Economics Objective / Multiple Choice
Question 31 POST_UTME_SKYLINE_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's indifference curve is given by the equation 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 consumer's optimal bundle of x and y?

Answer Options

A. x = 40, y = 60
Correct Answer B. x = 60, y = 40
C. x = 80, y = 20
D. x = 20, y = 80
Correct Answer
B
Correct Option:
x = 60, y = 40

About This Question

This is Post Utme Skyline University 2018 Economics Question 31. It is one of the objective questions from the 2018 Post Utme Skyline University Economics examination.

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