Post Utme Coal City University 2020 Economics Question 7

Practice objective / multiple choice question 7 from the 2020 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2020 Economics Objective / Multiple Choice

Question 7 POST_UTME_COAL_CITY_UNIVERSITY • 2020 • ECONOMICS • objective

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

Answer Options

Correct Answer A. x = 2, y = 4

B. x = 3, y = 3

C. x = 4, y = 2

D. x = 5, y = 1

Correct Answer

Correct Option:

x = 2, y = 4

About This Question

This is Post Utme Coal City University 2020 Economics Question 7. It is one of the objective questions from the 2020 Post Utme Coal City University Economics examination.

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