Post Utme Elizade University 2025 Economics Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2025 Economics Objective / Multiple Choice

Question 38 POST_UTME_ELIZADE_UNIVERSITY • 2025 • ECONOMICS • objective

A consumer has a utility function given by U(x, y) = 2x + 3y. The consumer's budget constraint is 20x + 15y = 300. U\sing the Lagrange multiplier method, find the consumer's optimal consumption bundle.

Answer Options

A. (10, 20)

Correct Answer B. (15, 15)

C. (20, 10)

D. (25, 5)

Correct Answer

Correct Option:

(15, 15)

About This Question

This is Post Utme Elizade University 2025 Economics Question 38. It is one of the objective questions from the 2025 Post Utme Elizade University Economics examination.

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