Post Utme Wellspring University 2020 Commerce Question 10
Practice objective / multiple choice question 10 from the 2020 Post Utme Wellspring University Commerce examination.
A consumer has a utility function given by U = 2x + 3y, where x and y are the quantities of two goods. If the consumer allocates 50% of their budget to Good A and 50% to Good B, and the prices of Good A and Good B are ₦200 and ₦300 respectively, what is the maximum utility the consumer can achieve?
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About This Question
This is Post Utme Wellspring University 2020 Commerce Question 10. It is one of the objective questions from the 2020 Post Utme Wellspring University Commerce examination.
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