Post Utme Pan Atlantic University 2020 Economics Question 38

Practice objective / multiple choice question 38 from the 2020 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2020 Economics Objective / Multiple Choice
Question 38 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods consumed. The budget constraint is 2x + 3y = 30. Find the optimal quantities of x and y.

Answer Options

Correct Answer A. x = 5, y = 5
B. x = 10, y = 0
C. x = 0, y = 10
D. x = 5, y = 10
Correct Answer
A
Correct Option:
x = 5, y = 5

About This Question

This is Post Utme Pan Atlantic University 2020 Economics Question 38. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Economics examination.

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