Post Utme Unilorin 2018 Economics Question 5

Practice objective / multiple choice question 5 from the 2018 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2018 Economics Objective / Multiple Choice
Question 5 POST_UTME_UNILORIN • 2018 • ECONOMICS • objective

A consumer's budget constraint is given by \( 50x + 75y = 1000 \), where ( x ) and ( y ) are the quantities of two goods. If the consumer's utility function is \( U = 2x + 3y \), 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 5. It is one of the objective questions from the 2018 Post Utme Unilorin Economics examination.

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