Post Utme Ims U 2018 Economics Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice
Question 12 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 4x + 5y = 20, what is the consumer's optimal bundle of goods?

Answer Options

A. (2, 2)
Correct Answer B. (4, 4)
C. (6, 2)
D. (3, 5)
Correct Answer
B
Correct Option:
(4, 4)

About This Question

This is Post Utme Ims U 2018 Economics Question 12. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support