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 indifference curve is angent to the budget line, what is the optimal combination of the two goods?

Question

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 indifference curve is 	angent to the budget line, what is the optimal combination of the two goods?

Accepted Answer

Good X: 2 units, Good Y: 1 unit

Post Utme Uniosun 2022 Economics Question 9

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 indifference curve is \tangent to the budget line, what is the optimal combination of the two goods?

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