Post Utme Ims U 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice

Question 8 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the prices of x and y are ₦5 and ₦10 respectively, and the consumer's budget is ₦50, find the optimal quantities of x and y.

A. x = 5, y = 2

B. x = 10, y = 1

Correct Answer C. x = 7, y = 3

D. x = 3, y = 5

Correct Answer

Correct Option:

x = 7, y = 3

This is Post Utme Ims U 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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