Post Utme Lasu 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Lasu Economics examination.

Post Utme Lasu 2020 Economics Objective / Multiple Choice

Question 18 POST_UTME_LASU • 2020 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 10x + 5y = 100, and the prices of the two goods are 2 and 5 respectively, what is the consumer's optimal consumption bundle?

A. x = 10, y = 10

Correct Answer B. x = 20, y = 5

C. x = 5, y = 20

D. x = 15, y = 15

Correct Answer

Correct Option:

x = 20, y = 5

This is Post Utme Lasu 2020 Economics Question 18. It is one of the objective questions from the 2020 Post Utme Lasu Economics examination.

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