Post Utme Summit University 2023 Economics Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Summit University Economics examination.

Post Utme Summit University 2023 Economics Objective / Multiple Choice

Question 18 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, find the optimal bundle of x and y.

Answer Options

Correct Answer A. x = 100, y = 50

B. x = 50, y = 100

C. x = 200, y = 0

D. x = 0, y = 200

Correct Answer

Correct Option:

x = 100, y = 50

About This Question

This is Post Utme Summit University 2023 Economics Question 18. It is one of the objective questions from the 2023 Post Utme Summit University Economics examination.

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