Post Utme Summit University 2022 Economics Question 33

Practice objective / multiple choice question 33 from the 2022 Post Utme Summit University Economics examination.

Post Utme Summit University 2022 Economics Objective / Multiple Choice
Question 33 POST_UTME_SUMMIT_UNIVERSITY • 2022 • ECONOMICS • objective

A consumer has the following utility function: U = 2x^0.5 * y^0.5. If the price of good x is ₦50 per unit and the price of good y is ₦100 per unit, find the optimal combination of x and y that maximizes the consumer's utility.

Answer Options

Correct Answer A. x = 100, y = 50
B. x = 50, y = 100
C. x = 100, y = 100
D. x = 50, y = 50
Correct Answer
A
Correct Option:
x = 100, y = 50

About This Question

This is Post Utme Summit University 2022 Economics Question 33. It is one of the objective questions from the 2022 Post Utme Summit University Economics examination.

View More Post Utme Summit University 2022 Economics Questions More Post Utme Summit University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support