Post Utme Wellspring University 2024 Economics Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2024 Economics Objective / Multiple Choice

Question 3 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's income is ₦100 and the prices of x and y are ₦5 and ₦10 respectively, what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 3

D. x = 20, y = 2

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Wellspring University 2024 Economics Question 3. It is one of the objective questions from the 2024 Post Utme Wellspring University Economics examination.

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