Post Utme Crawford University 2019 Economics Question 27

Practice objective / multiple choice question 27 from the 2019 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2019 Economics Objective / Multiple Choice
Question 27 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer has the following utility function: U = 2x + 3y, where x and y are the quantities of two goods. The prices of the goods are $2 and $3, respectively. If the consumer has a budget of $10, how many units of each good should it buy?

Answer Options

Correct Answer A. x = 2, y = 1
B. x = 3, y = 2
C. x = 4, y = 3
D. x = 5, y = 4
Correct Answer
A
Correct Option:
x = 2, y = 1

About This Question

This is Post Utme Crawford University 2019 Economics Question 27. It is one of the objective questions from the 2019 Post Utme Crawford University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support