Post Utme Uniport 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Uniport Economics examination.

Post Utme Uniport 2019 Economics Objective / Multiple Choice

Question 3 POST_UTME_UNIPORT • 2019 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y, where x and y are the quantities of two goods consumed. If the consumer's budget constraint is 10x + 20y = 100, find the optimal values of x and y.

Answer Options

Correct Answer A. x = 5, y = 2

B. x = 10, y = 5

C. x = 15, y = 10

D. x = 20, y = 15

Correct Answer

Correct Option:

x = 5, y = 2

About This Question

This is Post Utme Uniport 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Uniport Economics examination.

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