Post Utme Ims U 2023 Economics Question 3

Practice objective / multiple choice question 3 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice

Question 3 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A consumer has a utility function given by U(x, y) = 2x + 3y. The consumer's budget constraint is given by 2x + 3y = 100. Determine the consumer's optimal bundle of x and y.

Correct Answer A. \( x = 20, y = 30 \)

B. \( x = 30, y = 20 \)

C. \( x = 40, y = 10 \)

D. \( x = 50, y = 0 \)

Correct Answer

Correct Option:

\( x = 20, y = 30 \)

This is Post Utme Ims U 2023 Economics Question 3. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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