Post Utme Ui 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Ui Economics examination.

Post Utme Ui 2020 Economics Objective / Multiple Choice
Question 36 POST_UTME_UI • 2020 • ECONOMICS • objective

Consider a consumer with the following utility function: U(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the optimal bundle of x and y?

Answer Options

A. x = 100, y = 100
Correct Answer B. x = 150, y = 50
C. x = 200, y = 0
D. x = 0, y = 100
Correct Answer
B
Correct Option:
x = 150, y = 50

About This Question

This is Post Utme Ui 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Ui Economics examination.

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