Post Utme Summit University 2023 Economics Question 29

Practice objective / multiple choice question 29 from the 2023 Post Utme Summit University Economics examination.

Post Utme Summit University 2023 Economics Objective / Multiple Choice

Question 29 POST_UTME_SUMMIT_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer has a utility function given by U(x, y) = 2x + 3y. If the prices of x and y are ₦5 and ₦10 respectively, and the consumer's income is ₦100, what is the optimal bundle of x and y?

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 15, y = 3

C. x = 20, y = 2

D. x = 25, y = 1

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Summit University 2023 Economics Question 29. It is one of the objective questions from the 2023 Post Utme Summit University Economics examination.

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