Post Utme Veritas University 2021 Economics Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2021 Economics Objective / Multiple Choice

Question 8 POST_UTME_VERITAS_UNIVERSITY • 2021 • ECONOMICS • objective

A consumer's utility function is given by U = 2x + 3y. The consumer's budget constraint is given by 2x + 3y = 12. What is the consumer's optimal bundle of x and y?

Answer Options

Correct Answer A. x = 2, y = 4

B. x = 3, y = 3

C. x = 4, y = 2

D. x = 6, y = 0

Correct Answer

Correct Option:

x = 2, y = 4

About This Question

This is Post Utme Veritas University 2021 Economics Question 8. It is one of the objective questions from the 2021 Post Utme Veritas University Economics examination.

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