Post Utme Unn 2018 Economics Question 7

Practice objective / multiple choice question 7 from the 2018 Post Utme Unn Economics examination.

Post Utme Unn 2018 Economics Objective / Multiple Choice

Question 7 POST_UTME_UNN • 2018 • 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 prices of the two goods are ₦50 and ₦75 respectively, and the consumer's budget constraint is 2x + 3y = ₦150, what is the consumer's optimal consumption bundle?

A. x = 10, y = 5

Correct Answer B. x = 15, y = 10

C. x = 20, y = 15

D. x = 25, y = 20

Correct Answer

Correct Option:

x = 15, y = 10

This is Post Utme Unn 2018 Economics Question 7. It is one of the objective questions from the 2018 Post Utme Unn Economics examination.

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