Post Utme Al Hikmah University 2023 Economics Question 18

Practice objective / multiple choice question 18 from the 2023 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2023 Economics Objective / Multiple Choice
Question 18 POST_UTME_AL-HIKMAH_UNIVERSITY • 2023 • ECONOMICS • objective

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

Answer Options

A. x = 1, y = 3
Correct Answer B. x = 2, y = 2
C. x = 3, y = 1
D. x = 4, y = 0
Correct Answer
B
Correct Option:
x = 2, y = 2

About This Question

This is Post Utme Al Hikmah University 2023 Economics Question 18. It is one of the objective questions from the 2023 Post Utme Al Hikmah University Economics examination.

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