Post Utme Veritas University 2019 Economics Question 29

Practice objective / multiple choice question 29 from the 2019 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2019 Economics Objective / Multiple Choice
Question 29 POST_UTME_VERITAS_UNIVERSITY • 2019 • ECONOMICS • objective

A consumer has the following budget constraint: 2x + 3y = 12. The consumer's utility function is given by u(x, y) = 2x + 3y. U\sing the concept of indifference curves, find the consumer's optimal consumption bundle.

Answer Options

A. (x, y) = (2, 4)
Correct Answer B. (x, y) = (3, 3)
C. (x, y) = (4, 2)
D. (x, y) = (5, 1)
Correct Answer
B
Correct Option:
(x, y) = (3, 3)

About This Question

This is Post Utme Veritas University 2019 Economics Question 29. It is one of the objective questions from the 2019 Post Utme Veritas University Economics examination.

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