Post Utme Veritas University 2019 Economics Question 36

Practice objective / multiple choice question 36 from the 2019 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2019 Economics Objective / Multiple Choice
Question 36 POST_UTME_VERITAS_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's indifference curve is represented by the equation ( U(x,y) = 2x + 3y ). If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. \( x=40, y=20 \)
B. \( x=20, y=40 \)
C. \( x=30, y=30 \)
D. \( x=50, y=10 \)
Correct Answer
A
Correct Option:
\( x=40, y=20 \)

About This Question

This is Post Utme Veritas University 2019 Economics Question 36. It is one of the objective questions from the 2019 Post Utme Veritas University Economics examination.

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