Post Utme Mountain Top University 2021 Commerce Question 13
Practice objective / multiple choice question 13 from the 2021 Post Utme Mountain Top University Commerce examination.
A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the prices of the two goods are ₦50 and ₦75 respectively, and the consumer has a budget of ₦300, what is the optimal combination of x and y that maximizes utility?
Answer Options
About This Question
This is Post Utme Mountain Top University 2021 Commerce Question 13. It is one of the objective questions from the 2021 Post Utme Mountain Top University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.