Post Utme Achievers University 2022 Commerce Question 17
Practice objective / multiple choice question 17 from the 2022 Post Utme Achievers University Commerce examination.
A firm produces two products, X and Y, using two inputs, labor and capital. The production function for X is given by Q_X = 2L^0.5K^0.5, where Q_X is the quantity of X produced, L is the amount of labor used, and K is the amount of capital used. The production function for Y is given by Q_Y = 3L^0.2K^0.8. If the firm has 100 units of labor and 200 units of capital, how many units of X and Y should it produce to maximize its profits?
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About This Question
This is Post Utme Achievers University 2022 Commerce Question 17. It is one of the objective questions from the 2022 Post Utme Achievers University Commerce examination.
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