Post Utme Al Hikmah University 2021 Economics Question 10

Practice objective / multiple choice question 10 from the 2021 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2021 Economics Objective / Multiple Choice
Question 10 POST_UTME_AL-HIKMAH_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer's utility function is given by \( U = 2x + 3y \), where x and y are the quantities of two goods consumed. If the prices of the goods are $2 and $3, respectively, and the consumer's income is $10, what is the optimal bundle of goods?

Answer Options

Correct Answer A. \( x = 2, y = 1 \)
B. \( x = 3, y = 2 \)
C. \( x = 4, y = 3 \)
D. \( x = 5, y = 4 \)
Correct Answer
A
Correct Option:
\( x = 2, y = 1 \)

About This Question

This is Post Utme Al Hikmah University 2021 Economics Question 10. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.

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