Post Utme Achievers University 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2019 Economics Objective / Multiple Choice
Question 3 POST_UTME_ACHIEVERS_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's input prices are w_L = ₦100 and w_K = ₦200, and the firm's output price is P = ₦500, what is the firm's optimal input combination?

Answer Options

Correct Answer A. L = 100, K = 100
B. L = 200, K = 200
C. L = 300, K = 300
D. L = 400, K = 400
Correct Answer
A
Correct Option:
L = 100, K = 100

About This Question

This is Post Utme Achievers University 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Achievers University Economics examination.

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