Post Utme Covenant University 2017 Commerce Question 23
Practice objective / multiple choice question 23 from the 2017 Post Utme Covenant University Commerce examination.
A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦100 and the prices of the two goods are ₦5 and ₦10 respectively, how much of good x should the consumer consume to maximize utility?
Answer Options
About This Question
This is Post Utme Covenant University 2017 Commerce Question 23. It is one of the objective questions from the 2017 Post Utme Covenant University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.