Post Utme Veritas University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2024 Economics Objective / Multiple Choice

Question 31 POST_UTME_VERITAS_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y. The prices of x and y are ₦5 and ₦3 respectively. The consumer's budget is ₦20. What is the optimal bundle of x and y?

Answer Options

A. x = 2, y = 4

Correct Answer B. x = 4, y = 2

C. x = 3, y = 3

D. x = 1, y = 5

Correct Answer

Correct Option:

x = 4, y = 2

About This Question

This is Post Utme Veritas University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Veritas University Economics examination.

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