Post Utme Veritas University 2024 Economics Question 9

Practice objective / multiple choice question 9 from the 2024 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2024 Economics Objective / Multiple Choice

Question 9 POST_UTME_VERITAS_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has a budget of $100 and faces the following prices for two goods: good A \costs $20 and good B \costs $30. If the consumer's utility function is given by $ U = 2x_A + 3x_B $, where $ x_A $ and $ x_B $ are the quantities of goods A and B consumed, respectively, find the consumer's optimal consumption bundle.

Answer Options

Correct Answer A. $ x_A = 2, x_B = 1 $

B. $ x_A = 3, x_B = 2 $

C. $ x_A = 4, x_B = 3 $

D. $ x_A = 5, x_B = 4 $

Correct Answer

Correct Option:

$ x_A = 2, x_B = 1 $

About This Question

This is Post Utme Veritas University 2024 Economics Question 9. It is one of the objective questions from the 2024 Post Utme Veritas University Economics examination.

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