Post Utme Lautech 2018 Economics Question 34

Practice objective / multiple choice question 34 from the 2018 Post Utme Lautech Economics examination.

Post Utme Lautech 2018 Economics Objective / Multiple Choice
Question 34 POST_UTME_LAUTECH • 2018 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 100, where x and y are the quantities of two goods. The consumer's utility function is given by U = 2x + 3y. Find the optimal quantities of x and y that maximize utility.

Answer Options

A. x = 20, y = 30
B. x = 30, y = 20
Correct Answer C. x = 25, y = 25
D. x = 40, y = 10
Correct Answer
C
Correct Option:
x = 25, y = 25

About This Question

This is Post Utme Lautech 2018 Economics Question 34. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.

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