Post Utme Veritas University 2024 Economics Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2024 Economics Objective / Multiple Choice

Question 15 POST_UTME_VERITAS_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the prices of x and y are 5 and 10 respectively, and the consumer's income is 100, what is the optimal bundle of x and y?

Answer Options

A. x = 10, y = 5

Correct Answer B. x = 15, y = 10

C. x = 20, y = 15

D. x = 25, y = 20

Correct Answer

Correct Option:

x = 15, y = 10

About This Question

This is Post Utme Veritas University 2024 Economics Question 15. It is one of the objective questions from the 2024 Post Utme Veritas University Economics examination.

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