Post Utme Veritas University 2018 Commerce Question 35

Practice objective / multiple choice question 35 from the 2018 Post Utme Veritas University Commerce examination.

Post Utme Veritas University 2018 Commerce Objective / Multiple Choice
Question 35 POST_UTME_VERITAS_UNIVERSITY • 2018 • COMMERCE • objective

A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦200 and ₦300 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 2, y = 1
B. x = 3, y = 2
C. x = 4, y = 3
D. x = 5, y = 4
Correct Answer
A
Correct Option:
x = 2, y = 1

About This Question

This is Post Utme Veritas University 2018 Commerce Question 35. It is one of the objective questions from the 2018 Post Utme Veritas University Commerce examination.

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