Post Utme Veritas University 2018 Economics Question 5

Practice objective / multiple choice question 5 from the 2018 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2018 Economics Objective / Multiple Choice

Question 5 POST_UTME_VERITAS_UNIVERSITY • 2018 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. The budget constraint is given by 2x + 3y = 30. Find the optimal values of x and y.

Answer Options

Correct Answer A. x = 10, y = 5

B. x = 5, y = 10

C. x = 15, y = 0

D. x = 0, y = 15

Correct Answer

Correct Option:

x = 10, y = 5

About This Question

This is Post Utme Veritas University 2018 Economics Question 5. It is one of the objective questions from the 2018 Post Utme Veritas University Economics examination.

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