Post Utme Crawford University 2021 Economics Question 17
Practice objective / multiple choice question 17 from the 2021 Post Utme Crawford University Economics 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 budget constraint is 2x + 3y = 12, and the prices of the two goods are p_x = 2 and p_y = 3, calculate the consumer's optimal consumption bundle \( x*, y* \) and the maximum utility U*.
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About This Question
This is Post Utme Crawford University 2021 Economics Question 17. It is one of the objective questions from the 2021 Post Utme Crawford University Economics examination.
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