Post Utme Wellspring University 2024 Economics Question 12

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

Post Utme Wellspring University 2024 Economics Objective / Multiple Choice
Question 12 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer has the following utility function: U = 2x + 3y. The prices of x and y are ₦20 and ₦30 respectively. The consumer's budget is ₦100. What is the optimal level of x and y that the consumer should consume?

Answer Options

Correct Answer A. x = 2, y = 1
B. x = 1, y = 2
C. x = 3, y = 0
D. x = 0, y = 3
Correct Answer
A
Correct Option:
x = 2, y = 1

About This Question

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

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