Post Utme Abu 2023 Economics Question 30

Practice objective / multiple choice question 30 from the 2023 Post Utme Abu Economics examination.

Post Utme Abu 2023 Economics Objective / Multiple Choice

Question 30 POST_UTME_ABU • 2023 • ECONOMICS • objective

A consumer has the following utility function: U = 2x + 3y, where x and y are the quantities of two goods. If the prices of the two goods are $2 and $3 respectively, and the consumer has a budget of $10, what is the optimal combination of x and y?

Correct Answer A. x = 2, y = 3

B. x = 3, y = 2

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 2, y = 3

This is Post Utme Abu 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Abu Economics examination.

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