Post Utme Bowen University 2023 Economics Question 5

Practice objective / multiple choice question 5 from the 2023 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2023 Economics Objective / Multiple Choice

Question 5 POST_UTME_BOWEN_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 12. If the consumer's utility function is U(x, y) = x^\( 1/2 \) y^\( 1/2 \), what is the consumer's optimal bundle?

Answer Options

Correct Answer A. x = 3, y = 2

B. x = 2, y = 3

C. x = 4, y = 1

D. x = 1, y = 4

Correct Answer

Correct Option:

x = 3, y = 2

About This Question

This is Post Utme Bowen University 2023 Economics Question 5. It is one of the objective questions from the 2023 Post Utme Bowen University Economics examination.

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