Post Utme Bowen University 2017 Economics Question 38

Practice objective / multiple choice question 38 from the 2017 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2017 Economics Objective / Multiple Choice
Question 38 POST_UTME_BOWEN_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer's utility function is given by \( U = 2x + 3y \), where (x) and (y) are the quantities of two goods. If the consumer's budget constraint is given by \( 2x + 3y = 100 \), what is the consumer's optimal level of (x) and (y)?

Answer Options

A. \( x = 20, y = 20 \)
B. \( x = 30, y = 10 \)
C. \( x = 10, y = 30 \)
Correct Answer D. \( x = 25, y = 25 \)
Correct Answer
D
Correct Option:
\( x = 25, y = 25 \)

About This Question

This is Post Utme Bowen University 2017 Economics Question 38. It is one of the objective questions from the 2017 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2017 Economics Questions More Post Utme Bowen 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