Post Utme Uniport 2017 Economics Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Uniport Economics examination.

Post Utme Uniport 2017 Economics Objective / Multiple Choice

Question 2 POST_UTME_UNIPORT • 2017 • ECONOMICS • objective

A consumer has a budget of $100 and faces the following prices for two goods: x = $10 and y = $20. The consumer's utility function is U = 2x + 3y. What is the optimal bundle of goods?

Answer Options

Correct Answer A. $ x = 5, y = 3 $

B. $ x = 3, y = 5 $

C. $ x = 4, y = 4 $

D. $ x = 2, y = 6 $

Correct Answer

Correct Option:

$ x = 5, y = 3 $

About This Question

This is Post Utme Uniport 2017 Economics Question 2. It is one of the objective questions from the 2017 Post Utme Uniport Economics examination.

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