Post Utme Greenfield University 2024 Economics Question 3

Practice objective / multiple choice question 3 from the 2024 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2024 Economics Objective / Multiple Choice

Question 3 POST_UTME_GREENFIELD_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by (U(x, y) = 2x + 3y). If the consumer's budget constraint is \( 2x + 3y = 30 \), what is the consumer's optimal bundle of x and y?

Answer Options

A. \( x = 5, y = 5 \)

Correct Answer B. \( x = 10, y = 10 \)

C. \( x = 15, y = 15 \)

D. \( x = 20, y = 20 \)

Correct Answer

Correct Option:

\( x = 10, y = 10 \)

About This Question

This is Post Utme Greenfield University 2024 Economics Question 3. It is one of the objective questions from the 2024 Post Utme Greenfield University Economics examination.

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