Post Utme Ui 2023 Economics Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Ui Economics examination.

Post Utme Ui 2023 Economics Objective / Multiple Choice

Question 4 POST_UTME_UI • 2023 • ECONOMICS • objective

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

Correct Answer A. \( x = 10, y = 10 \)

B. \( x = 15, y = 5 \)

C. \( x = 20, y = 0 \)

D. \( x = 0, y = 20 \)

Correct Answer

Correct Option:

\( x = 10, y = 10 \)

This is Post Utme Ui 2023 Economics Question 4. It is one of the objective questions from the 2023 Post Utme Ui Economics examination.

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