Post Utme Bowen University 2019 Economics Question 19

Practice objective / multiple choice question 19 from the 2019 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2019 Economics Objective / Multiple Choice

Question 19 POST_UTME_BOWEN_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 12, where x and y are the quantities of two goods consumed. If the consumer's utility function is U(x, y) = 2x^2 + 3y^2, 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 19. It is one of the objective questions from the 2019 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2019 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