Post Utme Bells University 2024 Economics Question 17

Practice objective / multiple choice question 17 from the 2024 Post Utme Bells University Economics examination.

Post Utme Bells University 2024 Economics Objective / Multiple Choice

Question 17 POST_UTME_BELLS_UNIVERSITY • 2024 • 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 consumer's budget constraint is 2x + 3y = 12, and the prices of the two goods are p_x = 2 and p_y = 3, respectively, what is the consumer's optimal bundle of goods?

Answer Options

Correct Answer A. ( (x, y) = (3, 2) )

B. ( (x, y) = (2, 3) )

C. ( (x, y) = (4, 1) )

D. ( (x, y) = (1, 4) )

Correct Answer

Correct Option:

( (x, y) = (3, 2) )

About This Question

This is Post Utme Bells University 2024 Economics Question 17. It is one of the objective questions from the 2024 Post Utme Bells University Economics examination.

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