Post Utme Summit University 2019 Economics Question 22

Practice objective / multiple choice question 22 from the 2019 Post Utme Summit University Economics examination.

Post Utme Summit University 2019 Economics Objective / Multiple Choice

Question 22 POST_UTME_SUMMIT_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer's utility function is given by U(x, y) = 2x + 3y. If the consumer's budget is ₦100 and the prices of x and y are ₦5 and ₦10 respectively, find the optimal quantities of x and y.

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 0

D. x = 0, y = 10

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Summit University 2019 Economics Question 22. It is one of the objective questions from the 2019 Post Utme Summit University Economics examination.

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