Post Utme Achievers University 2017 Economics Question 7
Practice objective / multiple choice question 7 from the 2017 Post Utme Achievers University Economics examination.
A firm is producing a good with a production function Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of the good is $10 and the wage rate is $5 per hour, what is the optimal level of labor input?
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About This Question
This is Post Utme Achievers University 2017 Economics Question 7. It is one of the objective questions from the 2017 Post Utme Achievers University Economics examination.
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