Post Utme Lautech 2019 Economics Question 8
Practice objective / multiple choice question 8 from the 2019 Post Utme Lautech Economics examination.
A consumer has the following utility function: U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are $5 and $10 respectively, and the consumer has a budget of $50, what is the optimal quantity of good x to consume?
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About This Question
This is Post Utme Lautech 2019 Economics Question 8. It is one of the objective questions from the 2019 Post Utme Lautech Economics examination.
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