Post Utme Futo 2019 Economics Question 2

Practice objective / multiple choice question 2 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice

Question 2 POST_UTME_FUTO • 2019 • ECONOMICS • objective

A consumer's utility function is given by U(x,y) = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦1000 and the prices of the two goods are ₦5 and ₦10 respectively, what is the optimal combination of x and y?

Correct Answer A. x = 100, y = 50

B. x = 150, y = 25

C. x = 200, y = 0

D. x = 0, y = 100

Correct Answer

Correct Option:

x = 100, y = 50

This is Post Utme Futo 2019 Economics Question 2. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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