Post Utme Madonna University 2024 Economics Question 22

Practice objective / multiple choice question 22 from the 2024 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2024 Economics Objective / Multiple Choice

Question 22 POST_UTME_MADONNA_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's budget constraint is 10x + 5y = 50, find the consumer's optimal bundle of x and y.

Answer Options

A. x = 2, y = 4

Correct Answer B. x = 3, y = 5

C. x = 4, y = 6

D. x = 5, y = 7

Correct Answer

Correct Option:

x = 3, y = 5

About This Question

This is Post Utme Madonna University 2024 Economics Question 22. It is one of the objective questions from the 2024 Post Utme Madonna University Economics examination.

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