Post Utme Veritas University 2020 Economics Question 28
Practice objective / multiple choice question 28 from the 2020 Post Utme Veritas University Economics examination.
A consumer has an income of ₦1000 and faces a budget constraint of \( P_1x_1 + P_2x_2 = 1000 \), where \( P_1 \) and \( P_2 \) are the prices of goods 1 and 2, respectively, and \( x_1 \) and \( x_2 \) are the quantities consumed. If the prices are \( P_1 = 200 \) and \( P_2 = 300 \), what is the consumer's optimal bundle of goods?
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About This Question
This is Post Utme Veritas University 2020 Economics Question 28. It is one of the objective questions from the 2020 Post Utme Veritas University Economics examination.
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