Post Utme Aaua 2024 Economics Question 38

Practice objective / multiple choice question 38 from the 2024 Post Utme Aaua Economics examination.

Post Utme Aaua 2024 Economics Objective / Multiple Choice
Question 38 POST_UTME_AAUA • 2024 • ECONOMICS • objective
Post Utme Aaua 2024 Economics Question 38 diagram

A firm has a production function of Q = 3L + 2K and \cost function of C = 20 + 3L + 2K. If the price of the product is 30, what is the profit-maximizing level of labor and capital?

Answer Options

Correct Answer A. L = 10, K = 5
B. L = 5, K = 10
C. L = 15, K = 3
D. L = 20, K = 2
Correct Answer
A
Correct Option:
L = 10, K = 5

About This Question

This is Post Utme Aaua 2024 Economics Question 38. It is one of the objective questions from the 2024 Post Utme Aaua Economics examination.

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