Post Utme Veritas University 2025 Economics Question 10

Practice objective / multiple choice question 10 from the 2025 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2025 Economics Objective / Multiple Choice
Question 10 POST_UTME_VERITAS_UNIVERSITY • 2025 • ECONOMICS • objective

A consumer has a utility function U = 2X + 3Y. If the price of good X increases by 10% and the price of good Y increases by 15%, what is the new budget constraint?

Answer Options

A. 10X + 15Y = 100
Correct Answer B. 10X + 15Y = 120
C. 10X + 15Y = 150
D. 10X + 15Y = 180
Correct Answer
B
Correct Option:
10X + 15Y = 120

About This Question

This is Post Utme Veritas University 2025 Economics Question 10. It is one of the objective questions from the 2025 Post Utme Veritas University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support