Post Utme Esut 2021 Commerce Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Esut Commerce examination.

Post Utme Esut 2021 Commerce Objective / Multiple Choice

Question 3 POST_UTME_ESUT • 2021 • COMMERCE • objective

A consumer has a utility function given by U = 2x^2 + 3y^2, where x and y are the quantities of two different goods. If the price of good x is ₦50 per unit and the price of good y is ₦100 per unit, and the consumer's income is ₦1000, what is the optimal bundle of goods (x, y) that maximizes the consumer's utility?

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 20, y = 0

D. x = 0, y = 20

Correct Answer

Correct Option:

x = 10, y = 5

This is Post Utme Esut 2021 Commerce Question 3. It is one of the objective questions from the 2021 Post Utme Esut Commerce examination.

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