Post Utme Ims U 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Ims U Economics examination.

Post Utme Ims U 2018 Economics Objective / Multiple Choice

Question 3 POST_UTME_IMS_U • 2018 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's budget constraint is 2x + 3y = ₦100, find the optimal values of x and y.

A. x = 10, y = 20

B. x = 20, y = 10

Correct Answer C. x = 15, y = 15

D. x = 25, y = 5

Correct Answer

Correct Option:

x = 15, y = 15

This is Post Utme Ims U 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Ims U Economics examination.

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