Post Utme Unilag 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Unilag Economics examination.

Post Utme Unilag 2024 Economics Objective / Multiple Choice

Question 8 POST_UTME_UNILAG • 2024 • ECONOMICS • objective

A consumer has a budget of ₦1000 and faces the following prices for two goods: good X \costs ₦200 and good Y \costs ₦300. If the consumer's utility function is given by U = 2X + 3Y, what is the consumer's optimal bundle of goods X and Y?

Answer Options

Correct Answer A. X = 2, Y = 1

B. X = 1, Y = 2

C. X = 3, Y = 0

D. X = 0, Y = 3

Correct Answer

Correct Option:

X = 2, Y = 1

About This Question

This is Post Utme Unilag 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Unilag Economics examination.

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