Post Utme Ims U 2024 Economics Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Ims U Economics examination.

Post Utme Ims U 2024 Economics Objective / Multiple Choice

Question 38 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 consumed. If the consumer's budget constraint is 2x + 3y = 12 and the prices of the two goods are p_x = 2 and p_y = 3, respectively, what is the consumer's optimal bundle of goods?

Correct Answer A. x = 2, y = 4

B. x = 4, y = 2

C. x = 3, y = 3

D. x = 1, y = 5

Correct Answer

Correct Option:

x = 2, y = 4

This is Post Utme Ims U 2024 Economics Question 38. It is one of the objective questions from the 2024 Post Utme Ims U Economics examination.

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