Post Utme Unilorin 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2018 Economics Objective / Multiple Choice
Question 3 POST_UTME_UNILORIN • 2018 • ECONOMICS • objective

A consumer's utility function is given by \( U = 2x + 3y \), where ( x ) and ( y ) are the quantities of two goods. If the prices of the two goods are ( ₦50 ) and ( ₦75 ) respectively, find the optimal bundle of goods that maximizes the consumer's utility.

Answer Options

A. \( x = 10, y = 5 \)
Correct Answer B. \( x = 5, y = 10 \)
C. \( x = 15, y = 3 \)
D. \( x = 20, y = 2 \)
Correct Answer
B
Correct Option:
\( x = 5, y = 10 \)

About This Question

This is Post Utme Unilorin 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Unilorin Economics examination.

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