Post Utme Aaua 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Aaua Economics examination.

Post Utme Aaua 2018 Economics Objective / Multiple Choice

Question 3 POST_UTME_AAUA • 2018 • ECONOMICS • objective

A consumer in Nigeria has the following utility function: U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the goods are ₦10 and ₦20 respectively, determine the consumer's budget constraint and the optimal quantities of the goods.

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

This is Post Utme Aaua 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Aaua Economics examination.

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