Post Utme Eksu 2023 Economics Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Eksu Economics examination.

Post Utme Eksu 2023 Economics Objective / Multiple Choice

Question 20 POST_UTME_EKSU • 2023 • ECONOMICS • objective

A consumer has a utility function U(x,y) = x^2 + 2y^2, 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, respectively, what is the consumer's optimal bundle of goods?

A. (x,y) = (2,2)

Correct Answer B. (x,y) = (3,1)

C. (x,y) = (4,0)

D. (x,y) = (0,4)

Correct Answer

Correct Option:

(x,y) = (3,1)

This is Post Utme Eksu 2023 Economics Question 20. It is one of the objective questions from the 2023 Post Utme Eksu Economics examination.

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