Post Utme Ims U 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Ims U Economics examination.

Post Utme Ims U 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_IMS_U • 2024 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods. If the consumer's budget constraint is 2x + 3y = 10, find the optimal quantities of x and y.

Answer Options

A. x = 2, y = 2
Correct Answer B. x = 3, y = 1
C. x = 4, y = 0
D. x = 0, y = 4
Correct Answer
B
Correct Option:
x = 3, y = 1

About This Question

This is Post Utme Ims U 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Ims U Economics examination.

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