Post Utme Christopher University 2025 Economics Question 32

Practice objective / multiple choice question 32 from the 2025 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2025 Economics Objective / Multiple Choice
Question 32 POST_UTME_CHRISTOPHER_UNIVERSITY • 2025 • ECONOMICS • objective

A consumer has the following utility function: U(x,y) = x^2 + 2y. If the prices of x and y are P_x = 5 and P_y = 3, respectively, and the consumer's income is I = 150, calculate the optimal quantities of x and y u\sing the budget constraint.

Answer Options

Correct Answer A. \( x^* = 15, y^* = 10 \)
B. \( x^* = 10, y^* = 15 \)
C. \( x^* = 20, y^* = 5 \)
D. \( x^* = 25, y^* = 2 \)
Correct Answer
A
Correct Option:
\( x^* = 15, y^* = 10 \)

About This Question

This is Post Utme Christopher University 2025 Economics Question 32. It is one of the objective questions from the 2025 Post Utme Christopher University Economics examination.

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