Post Utme Unilag 2020 Commerce Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Unilag Commerce examination.

Post Utme Unilag 2020 Commerce Objective / Multiple Choice

Question 3 POST_UTME_UNILAG • 2020 • COMMERCE • objective

A consumer has a utility function given by U = 2x + 3y. If the prices of x and y are ₦50 and ₦100 respectively, and the consumer has a budget of ₦500, what is the optimal level of x and y?

Correct Answer A. x = 5, y = 3

B. x = 3, y = 5

C. x = 10, y = 2

D. x = 2, y = 10

Correct Answer

Correct Option:

x = 5, y = 3

This is Post Utme Unilag 2020 Commerce Question 3. It is one of the objective questions from the 2020 Post Utme Unilag Commerce examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support