Post Utme Wellspring University 2021 Economics Question 16

Practice objective / multiple choice question 16 from the 2021 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2021 Economics Objective / Multiple Choice
Question 16 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer's indifference curve is given by the equation u(x, y) = 2x + 3y. If the consumer's income is ₦1000 and the prices of x and y are ₦5 and ₦3 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 40, y = 20
B. x = 30, y = 30
C. x = 20, y = 40
D. x = 10, y = 50
Correct Answer
A
Correct Option:
x = 40, y = 20

About This Question

This is Post Utme Wellspring University 2021 Economics Question 16. It is one of the objective questions from the 2021 Post Utme Wellspring University Economics examination.

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