Post Utme Pan Atlantic University 2024 Economics Question 31

Practice objective / multiple choice question 31 from the 2024 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2024 Economics Objective / Multiple Choice

Question 31 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's budget constraint is 10x + 5y = 100, what is the optimal bundle of x and y to maximize utility?

Answer Options

A. x = 5, y = 10

B. x = 10, y = 5

Correct Answer C. x = 7.5, y = 7.5

D. x = 3, y = 15

Correct Answer

Correct Option:

x = 7.5, y = 7.5

About This Question

This is Post Utme Pan Atlantic University 2024 Economics Question 31. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Economics examination.

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