Post Utme Crawford University 2019 Economics Question 30

Practice objective / multiple choice question 30 from the 2019 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2019 Economics Objective / Multiple Choice
Question 30 POST_UTME_CRAWFORD_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's budget constraint is given by the equation: 2x + 3y = 12, where x and y are the quantities of two goods. If the consumer wants to maximize its utility, what quantities of each good should it buy?

Answer Options

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

About This Question

This is Post Utme Crawford University 2019 Economics Question 30. 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