Post Utme Unn 2024 Economics Question 12

Practice objective / multiple choice question 12 from the 2024 Post Utme Unn Economics examination.

Post Utme Unn 2024 Economics Objective / Multiple Choice

Question 12 POST_UTME_UNN • 2024 • ECONOMICS • objective

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 budget constraint is 2x + 3y = 12, find the optimal quantities of x and y that maximize the consumer's utility.

Correct Answer A. x = 2, y = 4

B. x = 3, y = 3

C. x = 4, y = 2

D. x = 5, y = 1

Correct Answer

Correct Option:

x = 2, y = 4

This is Post Utme Unn 2024 Economics Question 12. It is one of the objective questions from the 2024 Post Utme Unn Economics examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support