Post Utme Uniport 2023 Economics Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Uniport Economics examination.

Post Utme Uniport 2023 Economics Objective / Multiple Choice
Question 4 POST_UTME_UNIPORT • 2023 • ECONOMICS • objective

A consumer has the following utility function: U = 2x + 3y. The consumer's budget constraint is 2x + 3y = ₦100. U\sing the concept of consumer equilibrium, determine the consumer's optimal consumption bundle.

Answer Options

Correct Answer A. The consumer's optimal consumption bundle is (x, y) = (20, 30).
B. The consumer's optimal consumption bundle is (x, y) = (30, 20).
C. The consumer's optimal consumption bundle is (x, y) = (40, 10).
D. The consumer's optimal consumption bundle is (x, y) = (10, 40).
Correct Answer
A
Correct Option:
The consumer's optimal consumption bundle is (x, y) = (20, 30).

About This Question

This is Post Utme Uniport 2023 Economics Question 4. It is one of the objective questions from the 2023 Post Utme Uniport Economics examination.

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