Post Utme Unilag 2020 Economics Question 30

Practice objective / multiple choice question 30 from the 2020 Post Utme Unilag Economics examination.

Post Utme Unilag 2020 Economics Objective / Multiple Choice

Question 30 POST_UTME_UNILAG • 2020 • ECONOMICS • objective

A consumer's utility function is given by U = x^2y^2. If the consumer's income is ₦1000 and the prices of x and y are ₦10 and ₦20 respectively, what is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 20, y = 2

D. x = 2, y = 20

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Unilag 2020 Economics Question 30. It is one of the objective questions from the 2020 Post Utme Unilag Economics examination.

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