Post Utme Wellspring University 2022 Economics Question 14

Practice objective / multiple choice question 14 from the 2022 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2022 Economics Objective / Multiple Choice
Question 14 POST_UTME_WELLSPRING_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a budget constraint of ₦100, and the prices of two goods, X and Y, are ₦5 and ₦10, respectively. If the consumer's indifference curve is given by the equation U = 2X + 3Y, what is the optimal consumption bundle?

Answer Options

A. X = 10, Y = 20
Correct Answer B. X = 15, Y = 15
C. X = 20, Y = 10
D. X = 25, Y = 5
Correct Answer
B
Correct Option:
X = 15, Y = 15

About This Question

This is Post Utme Wellspring University 2022 Economics Question 14. It is one of the objective questions from the 2022 Post Utme Wellspring University Economics examination.

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