Post Utme Rhema University 2023 Economics Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2023 Economics Objective / Multiple Choice

Question 32 POST_UTME_RHEMA_UNIVERSITY • 2023 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's budget constraint is 2x + 3y = 12, and the price of good x is 2, what is the consumer's optimal consumption bundle?

Answer Options

Correct Answer A. x = 2, y = 4

B. x = 4, y = 2

C. x = 6, y = 0

D. x = 0, y = 6

Correct Answer

Correct Option:

x = 2, y = 4

About This Question

This is Post Utme Rhema University 2023 Economics Question 32. It is one of the objective questions from the 2023 Post Utme Rhema University Economics examination.

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