Post Utme Noun 2021 Commerce Question 39

Practice objective / multiple choice question 39 from the 2021 Post Utme Noun Commerce examination.

Post Utme Noun 2021 Commerce Objective / Multiple Choice
Question 39 POST_UTME_NOUN • 2021 • COMMERCE • objective
Post Utme Noun 2021 Commerce Question 39 diagram

A consumer has a budget constraint given by ( 2x + 3y = 12 ), where ( x ) and ( y ) are the quantities of two goods. If the consumer wants to maximize utility, which of the following is a necessary condition?

Answer Options

A. The consumer must spend all of their income.
Correct Answer B. The consumer must allocate their income between the two goods in a way that maximizes utility.
C. The consumer must allocate their income between the two goods in a way that minimizes cost.
D. The consumer must allocate their income between the two goods in a way that maximizes profit.
Correct Answer
B
Correct Option:
The consumer must allocate their income between the two goods in a way that maximizes utility.

About This Question

This is Post Utme Noun 2021 Commerce Question 39. It is one of the objective questions from the 2021 Post Utme Noun Commerce examination.

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