Post Utme Wellspring University 2024 Economics Question 33

Practice objective / multiple choice question 33 from the 2024 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2024 Economics Objective / Multiple Choice
Question 33 POST_UTME_WELLSPRING_UNIVERSITY • 2024 • ECONOMICS • objective

A consumer's budget constraint is given by the equation 2x + 3y = 100, where x is the quantity of good 1 and y is the quantity of good 2. If the consumer has a utility function U = 2x + 3y, what is the optimal bundle of goods?

Answer Options

Correct Answer A. x = 20, y = 10
B. x = 15, y = 15
C. x = 10, y = 20
D. x = 5, y = 25
Correct Answer
A
Correct Option:
x = 20, y = 10

About This Question

This is Post Utme Wellspring University 2024 Economics Question 33. It is one of the objective questions from the 2024 Post Utme Wellspring University Economics examination.

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