Post Utme Summit University 2023 Commerce Question 20
Practice objective / multiple choice question 20 from the 2023 Post Utme Summit University Commerce examination.
A consumer has a utility function given by the equation U = 2X + 3Y, where U is the utility and X and Y are the quantities of two goods. If the consumer has a budget of ₦1000 and the prices of the goods are ₦200 and ₦300, respectively, how many units of good X can they buy if they want to maximize their utility?
Answer Options
About This Question
This is Post Utme Summit University 2023 Commerce Question 20. It is one of the objective questions from the 2023 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.