Post Utme Lead City University 2022 Economics Question 30

Practice objective / multiple choice question 30 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice

Question 30 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer's budget constraint is given by 2x + 3y = 12. If the consumer's utility function is U = 2x + y, what is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. x = 2, y = 2

B. x = 3, y = 1

C. x = 4, y = 0

D. x = 0, y = 4

Correct Answer

Correct Option:

x = 2, y = 2

About This Question

This is Post Utme Lead City University 2022 Economics Question 30. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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