Post Utme Skyline University 2018 Economics Question 19

Practice objective / multiple choice question 19 from the 2018 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2018 Economics Objective / Multiple Choice
Question 19 POST_UTME_SKYLINE_UNIVERSITY • 2018 • 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 budget constraint is given by 2x + 3y = ₦100, and the consumer's income is ₦120, what is the optimal bundle of goods?

Answer Options

A. x = 20, y = 10
Correct Answer B. x = 15, y = 15
C. x = 10, y = 20
D. x = 5, y = 25
Correct Answer
B
Correct Option:
x = 15, y = 15

About This Question

This is Post Utme Skyline University 2018 Economics Question 19. It is one of the objective questions from the 2018 Post Utme Skyline University Economics examination.

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