Post Utme Afe Babalola University 2020 Economics Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Afe Babalola University Economics examination.

Post Utme Afe Babalola University 2020 Economics Objective / Multiple Choice
Question 3 POST_UTME_AFE_BABALOLA_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's budget constraint is 10x + 5y = 100, find the optimal values of x and y.

Answer Options

Correct Answer A. x = 5, y = 10
B. x = 10, y = 5
C. x = 15, y = 3
D. x = 20, y = 2
Correct Answer
A
Correct Option:
x = 5, y = 10

About This Question

This is Post Utme Afe Babalola University 2020 Economics Question 3. It is one of the objective questions from the 2020 Post Utme Afe Babalola University Economics examination.

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