Post Utme Pan Atlantic University 2023 Economics Question 37

Practice objective / multiple choice question 37 from the 2023 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2023 Economics Objective / Multiple Choice
Question 37 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • 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 4x + 5y = 20, and the prices of the two goods are p_x = ₦2 and p_y = ₦3, what is the consumer's optimal bundle of goods?

Answer Options

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

About This Question

This is Post Utme Pan Atlantic University 2023 Economics Question 37. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Economics examination.

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