Post Utme Lasu 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Lasu Economics examination.

Post Utme Lasu 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_LASU • 2017 • ECONOMICS • objective

A firm has a revenue function given by R = 2x + 3y. If the price of x is ₦10 per unit and the price of y is ₦20 per unit, find the optimal quantities of x and y that will maximize the firm's revenue.

Answer Options

Correct Answer A. x = 20, y = 10
B. x = 10, y = 20
C. x = 30, y = 10
D. x = 10, y = 30
Correct Answer
A
Correct Option:
x = 20, y = 10

About This Question

This is Post Utme Lasu 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Lasu Economics examination.

View More Post Utme Lasu 2017 Economics Questions More Post Utme Lasu Practice Questions Back to Questions

Master the Exam!

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