Post Utme Summit University 2022 Economics Question 30

Practice objective / multiple choice question 30 from the 2022 Post Utme Summit University Economics examination.

Post Utme Summit University 2022 Economics Objective / Multiple Choice
Question 30 POST_UTME_SUMMIT_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has a utility function given by U = 2X + 3Y, where X and Y are the quantities of two goods. The prices of the goods are ₦5 and ₦3 respectively. What is the consumer's budget constraint?

Answer Options

A. 5X + 3Y = 15
Correct Answer B. 5X + 3Y = 20
C. 5X + 3Y = 25
D. 5X + 3Y = 30
Correct Answer
B
Correct Option:
5X + 3Y = 20

About This Question

This is Post Utme Summit University 2022 Economics Question 30. It is one of the objective questions from the 2022 Post Utme Summit University Economics examination.

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