Post Utme Futo 2019 Economics Question 23

Practice objective / multiple choice question 23 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice

Question 23 POST_UTME_FUTO • 2019 • ECONOMICS • objective

A consumer's utility function is given by U = 2X + 3Y, where U is utility, X is quantity of good X and Y is quantity of good Y. If the prices of good X and good Y are ₦100 and ₦200 respectively, and the consumer's budget constraint is 100X + 200Y = ₦10000, find the optimal values of X and Y.

A. X = 10, Y = 20

B. X = 20, Y = 10

Correct Answer C. X = 15, Y = 15

D. X = 25, Y = 5

Correct Answer

Correct Option:

X = 15, Y = 15

This is Post Utme Futo 2019 Economics Question 23. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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