Post Utme Unilag 2020 Commerce Question 5

Practice objective / multiple choice question 5 from the 2020 Post Utme Unilag Commerce examination.

Post Utme Unilag 2020 Commerce Objective / Multiple Choice

Question 5 POST_UTME_UNILAG • 2020 • COMMERCE • objective

A consumer has a budget of ₦500 and a utility function given by U = 2x + 3y. If the prices of x and y are ₦50 and ₦100 respectively, 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 5. It is one of the objective questions from the 2020 Post Utme Unilag Commerce examination.

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