Post Utme Summit University 2023 Commerce Question 34
Practice objective / multiple choice question 34 from the 2023 Post Utme Summit University Commerce examination.
A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 10x + 5y = 50, and the prices of the two goods are 2 and 5 respectively, what is the consumer's optimal bundle of goods?
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About This Question
This is Post Utme Summit University 2023 Commerce Question 34. It is one of the objective questions from the 2023 Post Utme Summit University Commerce examination.
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