Post Utme Al Hikmah University 2019 Economics Question 18

Practice objective / multiple choice question 18 from the 2019 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2019 Economics Objective / Multiple Choice

Question 18 POST_UTME_AL-HIKMAH_UNIVERSITY • 2019 • ECONOMICS • objective

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

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 10, y = 10

D. x = 5, y = 5

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Al Hikmah University 2019 Economics Question 18. It is one of the objective questions from the 2019 Post Utme Al Hikmah University Economics examination.

View More Post Utme Al Hikmah University 2019 Economics Questions More Post Utme Al Hikmah University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support