Post Utme Osustech 2019 Economics Question 36

Practice objective / multiple choice question 36 from the 2019 Post Utme Osustech Economics examination.

Post Utme Osustech 2019 Economics Objective / Multiple Choice
Question 36 POST_UTME_OSUSTECH • 2019 • ECONOMICS • objective

Consider a consumer with a utility function U(x,y) = 2x + 3y - x^2 - y^2. If the consumer's budget constraint is 2x + 3y = 12, find the optimal values of x and y u\sing Lagrange multipliers.

Answer Options

A. x = 2, y = 2
Correct Answer B. x = 3, y = 1
C. x = 1, y = 3
D. x = 4, y = 0
Correct Answer
B
Correct Option:
x = 3, y = 1

About This Question

This is Post Utme Osustech 2019 Economics Question 36. It is one of the objective questions from the 2019 Post Utme Osustech Economics examination.

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