Post Utme Igbinedion University 2021 Economics Question 35

Practice objective / multiple choice question 35 from the 2021 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2021 Economics Objective / Multiple Choice

Question 35 POST_UTME_IGBINEDION_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer's budget constraint is given by 2X + 3Y = 12. If the consumer's utility function is U(X, Y) = XY, find the optimal values of X and Y.

Answer Options

A. X = 2, Y = 4

Correct Answer B. X = 3, Y = 3

C. X = 4, Y = 2

D. X = 5, Y = 1

Correct Answer

Correct Option:

X = 3, Y = 3

About This Question

This is Post Utme Igbinedion University 2021 Economics Question 35. It is one of the objective questions from the 2021 Post Utme Igbinedion University Economics examination.

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