Post Utme Crawford University 2024 Commerce Question 15

Practice objective / multiple choice question 15 from the 2024 Post Utme Crawford University Commerce examination.

Post Utme Crawford University 2024 Commerce Objective / Multiple Choice
Question 15 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • COMMERCE • objective

A consumer has a utility function given by ( U(x,y) = 2x + 3y ), where x and y are the quantities of two different goods consumed. The prices of the two goods are ₦5 and ₦3 respectively. What is the consumer's optimal consumption plan?

Answer Options

Correct Answer A. Buy 2 units of good x and 1 unit of good y
B. Buy 1 unit of good x and 2 units of good y
C. Buy 3 units of good x and 0 units of good y
D. Buy 0 units of good x and 3 units of good y
Correct Answer
A
Correct Option:
Buy 2 units of good x and 1 unit of good y

About This Question

This is Post Utme Crawford University 2024 Commerce Question 15. It is one of the objective questions from the 2024 Post Utme Crawford University Commerce examination.

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