Post Utme Summit University 2020 Economics Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Summit University Economics examination.

Post Utme Summit University 2020 Economics Objective / Multiple Choice

Question 31 POST_UTME_SUMMIT_UNIVERSITY • 2020 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. If the consumer's budget constraint is 2x + 3y = 10, what is the optimal bundle of x and y to maximize utility?

Answer Options

Correct Answer A. x = 2, y = 2

B. x = 3, y = 1

C. x = 4, y = 0

D. x = 1, y = 3

Correct Answer

Correct Option:

x = 2, y = 2

About This Question

This is Post Utme Summit University 2020 Economics Question 31. It is one of the objective questions from the 2020 Post Utme Summit University Economics examination.

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