Post Utme Summit University 2017 Commerce Question 23
Practice objective / multiple choice question 23 from the 2017 Post Utme Summit University Commerce examination.
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 ₦5 and ₦10 respectively, and the consumer has a budget of ₦50, what is the optimal bundle of goods?
Answer Options
About This Question
This is Post Utme Summit University 2017 Commerce Question 23. It is one of the objective questions from the 2017 Post Utme Summit University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.