Post Utme Ksu 2019 Economics Question 17

Practice objective / multiple choice question 17 from the 2019 Post Utme Ksu Economics examination.

Post Utme Ksu 2019 Economics Objective / Multiple Choice

Question 17 POST_UTME_KSU • 2019 • 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 is ₦100 and the prices of the two goods are ₦5 and ₦10 respectively, find the optimal quantities of the two goods that maximize the consumer's utility.

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 0

D. x = 0, y = 15

Correct Answer

Correct Option:

x = 10, y = 5

This is Post Utme Ksu 2019 Economics Question 17. It is one of the objective questions from the 2019 Post Utme Ksu Economics examination.

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