Post Utme Abu 2019 Economics Question 19

Practice objective / multiple choice question 19 from the 2019 Post Utme Abu Economics examination.

Post Utme Abu 2019 Economics Objective / Multiple Choice
Question 19 POST_UTME_ABU • 2019 • ECONOMICS • objective

A firm has the following \cost function: C = 2L + 3K, where L and K are the amounts of labor and capital used, respectively. The firm's revenue function is given by R = 4L + 5K. What is the firm's profit-maximizing input bundle?

Answer Options

Correct Answer A. L = 2, K = 1
B. L = 1, K = 2
C. L = 3, K = 3
D. L = 4, K = 4
Correct Answer
A
Correct Option:
L = 2, K = 1

About This Question

This is Post Utme Abu 2019 Economics Question 19. It is one of the objective questions from the 2019 Post Utme Abu Economics examination.

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