Post Utme Futo 2019 Economics Question 5

Practice objective / multiple choice question 5 from the 2019 Post Utme Futo Economics examination.

Post Utme Futo 2019 Economics Objective / Multiple Choice

Question 5 POST_UTME_FUTO • 2019 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 100, where x and y are the quantities of two goods consumed. If the consumer's utility function is U(x,y) = 2x + 3y, what is the optimal combination of x and y?

Correct Answer A. x = 20, y = 20

B. x = 30, y = 10

C. x = 40, y = 0

D. x = 0, y = 33.33

Correct Answer

Correct Option:

x = 20, y = 20

This is Post Utme Futo 2019 Economics Question 5. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.

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