Post Utme Redeemers University 2025 Economics Question 2

Practice objective / multiple choice question 2 from the 2025 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2025 Economics Objective / Multiple Choice

Question 2 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the prices of x and y are ₦5 and ₦10 respectively, and the consumer has a budget of ₦50, what is the optimal combination of x and y that maximizes utility?

Answer Options

Correct Answer A. x = 5, y = 2

B. x = 10, y = 0

C. x = 0, y = 5

D. x = 2, y = 5

Correct Answer

Correct Option:

x = 5, y = 2

About This Question

This is Post Utme Redeemers University 2025 Economics Question 2. It is one of the objective questions from the 2025 Post Utme Redeemers University Economics examination.

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