Post Utme Covenant University 2020 Economics Question 12

Practice objective / multiple choice question 12 from the 2020 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2020 Economics Objective / Multiple Choice
Question 12 POST_UTME_COVENANT_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer has a utility function given by ( U(x,y) = 2x + 3y ). If the consumer's budget constraint is \( 2x + 3y = 12 \), and the prices of x and y are \( P_x = 2 \) and \( P_y = 3 \), respectively, what is the consumer's optimal bundle of x and y?

Answer Options

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

About This Question

This is Post Utme Covenant University 2020 Economics Question 12. It is one of the objective questions from the 2020 Post Utme Covenant University Economics examination.

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