Post Utme Bowen University 2019 Economics Question 17

Practice objective / multiple choice question 17 from the 2019 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2019 Economics Objective / Multiple Choice

Question 17 POST_UTME_BOWEN_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x^2 + 3y^2, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 2x + 3y = 12, find the optimal values of x and y.

Answer Options

Correct Answer A. x = 2, y = 2

B. x = 3, y = 3

C. x = 4, y = 4

D. x = 5, y = 5

Correct Answer

Correct Option:

x = 2, y = 2

About This Question

This is Post Utme Bowen University 2019 Economics Question 17. It is one of the objective questions from the 2019 Post Utme Bowen University Economics examination.

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