Post Utme Unn 2021 Economics Question 18

Practice objective / multiple choice question 18 from the 2021 Post Utme Unn Economics examination.

Post Utme Unn 2021 Economics Objective / Multiple Choice

Question 18 POST_UTME_UNN • 2021 • ECONOMICS • objective

A consumer has a budget of ₦10,000 and a utility function given by U(x,y) = 2x + 3y. If the prices of x and y are ₦5 and ₦3 respectively, what is the optimal bundle of x and y that the consumer will choose?

Correct Answer A. (x,y) = (1,2)

B. (x,y) = (2,1)

C. (x,y) = (3,0)

D. (x,y) = (0,3)

Correct Answer

Correct Option:

(x,y) = (1,2)

This is Post Utme Unn 2021 Economics Question 18. It is one of the objective questions from the 2021 Post Utme Unn Economics examination.

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