Post Utme Crawford University 2022 Economics Question 40

Practice objective / multiple choice question 40 from the 2022 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2022 Economics Objective / Multiple Choice
Question 40 POST_UTME_CRAWFORD_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a budget of ₦100 and is considering two goods with prices ₦20 and ₦30 respectively. If the consumer's utility function is U(x,y) = 2x + 3y, what is the optimal combination of x and y?

Answer Options

Correct Answer A. x = 5 units, y = 2 units
B. x = 10 units, y = 1 unit
C. x = 15 units, y = 0 units
D. x = 0 units, y = 5 units
Correct Answer
A
Correct Option:
x = 5 units, y = 2 units

About This Question

This is Post Utme Crawford University 2022 Economics Question 40. It is one of the objective questions from the 2022 Post Utme Crawford University Economics examination.

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