Post Utme Futo 2020 Economics Question 24

Practice objective / multiple choice question 24 from the 2020 Post Utme Futo Economics examination.

Post Utme Futo 2020 Economics Objective / Multiple Choice

Question 24 POST_UTME_FUTO • 2020 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y. If the prices of x and y are $5 and $10 respectively, and the consumer has a budget of $50, what is the optimal consumption bundle?

A. x = 5, y = 2

Correct Answer B. x = 10, y = 5

C. x = 15, y = 10

D. x = 20, y = 15

Correct Answer

Correct Option:

x = 10, y = 5

This is Post Utme Futo 2020 Economics Question 24. It is one of the objective questions from the 2020 Post Utme Futo Economics examination.

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