Post Utme Mountain Top University 2017 Economics Question 23

Practice objective / multiple choice question 23 from the 2017 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2017 Economics Objective / Multiple Choice

Question 23 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2017 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 10x + 5y = 100, what is the optimal combination of x and y that maximizes utility?

Answer Options

Correct Answer A. x = 5, y = 10

B. x = 10, y = 5

C. x = 15, y = 3

D. x = 20, y = 2

Correct Answer

Correct Option:

x = 5, y = 10

About This Question

This is Post Utme Mountain Top University 2017 Economics Question 23. It is one of the objective questions from the 2017 Post Utme Mountain Top University Economics examination.

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