Post Utme Ims U 2022 Economics Question 8

Practice objective / multiple choice question 8 from the 2022 Post Utme Ims U Economics examination.

Post Utme Ims U 2022 Economics Objective / Multiple Choice

Question 8 POST_UTME_IMS_U • 2022 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. The consumer's budget constraint is given by 2x + 3y = ₦100. What is the consumer's optimal bundle of goods?

Correct Answer A. x = 20, y = 10

B. x = 15, y = 20

C. x = 10, y = 30

D. x = 5, y = 40

Correct Answer

Correct Option:

x = 20, y = 10

This is Post Utme Ims U 2022 Economics Question 8. It is one of the objective questions from the 2022 Post Utme Ims U Economics examination.

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