Post Utme Covenant University 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2021 Economics Objective / Multiple Choice
Question 3 POST_UTME_COVENANT_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer has the following utility function: \( U = 2x + 3y \). If the prices of x and y are $2 and $3 respectively, and the consumer's income is $10, what is the optimal bundle of x and y?

Answer Options

Correct Answer A. x = 2, y = 2
B. x = 3, y = 1
C. x = 4, y = 0
D. x = 0, y = 4
Correct Answer
A
Correct Option:
x = 2, y = 2

About This Question

This is Post Utme Covenant University 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.

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