Post Utme Unn 2023 Economics Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Unn Economics examination.

Post Utme Unn 2023 Economics Objective / Multiple Choice

Question 24 POST_UTME_UNN • 2023 • ECONOMICS • objective

A consumer is faced with the following utility function: U(x, y) = 2x^0.5y^0.5. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal bundle?

A. x = 10, y = 10

B. x = 20, y = 5

C. x = 5, y = 20

Correct Answer D. x = 15, y = 15

Correct Answer

Correct Option:

x = 15, y = 15

This is Post Utme Unn 2023 Economics Question 24. It is one of the objective questions from the 2023 Post Utme Unn Economics examination.

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