Post Utme Christopher University 2021 Economics Question 7

Practice objective / multiple choice question 7 from the 2021 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2021 Economics Objective / Multiple Choice
Question 7 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ECONOMICS • objective

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

Answer Options

A. x = 2, y = 4
Correct Answer B. x = 3, y = 3
C. x = 4, y = 2
D. x = 5, y = 1
Correct Answer
B
Correct Option:
x = 3, y = 3

About This Question

This is Post Utme Christopher University 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Christopher University Economics examination.

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