Post Utme Lasu 2024 Economics Question 31

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

Post Utme Lasu 2024 Economics Objective / Multiple Choice
Question 31 POST_UTME_LASU • 2024 • ECONOMICS • objective

Suppose a consumer's utility function is given by ( U(x,y) = 2x + 3y ), where x and y are the quantities of two goods consumed. If the consumer's budget constraint is \( 2x + 3y = 12 \), find the optimal quantities of x and y that maximize the consumer's utility.

Answer Options

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

About This Question

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

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