Post Utme Unilorin 2022 Economics Question 7
Practice objective / multiple choice question 7 from the 2022 Post Utme Unilorin Economics examination.
A consumer's utility function is given by U(x,y) = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's income is ₦100 and the prices of the two goods are ₦10 and ₦20 respectively, find the optimal quantities of the two goods that maximize the consumer's utility.
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About This Question
This is Post Utme Unilorin 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Unilorin Economics examination.
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