Post Utme Crawford University 2022 Commerce Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2022 Commerce Objective / Multiple Choice
Question 10 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • COMMERCE • objective

A consumer has a utility function U(x, y) = 2x + 3y, where x and y are the quantities of two goods. The prices of the goods are ₦5,000 and ₦3,000, respectively. Using the budget constraint and utility function, determine the consumer's optimal consumption bundle.

Answer Options

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

About This Question

This is Post Utme Crawford University 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Crawford University Commerce examination.

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