Post Utme Summit University 2018 Economics Question 38
Practice objective / multiple choice question 38 from the 2018 Post Utme Summit University Economics examination.
The utility function of a consumer is given by U = 2x + 3y, where U is the utility and x and y are the quantities of two goods. If the consumer has a budget of ₦100 and the prices of the two goods are ₦5 and ₦10 respectively, find the quantities of the two goods that maximize the utility.
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About This Question
This is Post Utme Summit University 2018 Economics Question 38. It is one of the objective questions from the 2018 Post Utme Summit University Economics examination.
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