Post Utme Achievers University 2024 Commerce Question 18
Practice objective / multiple choice question 18 from the 2024 Post Utme Achievers University Commerce examination.
A firm's production function is given by 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 firm wants to produce 100 units of output, and the price of labor is 10 per unit, and the price of capital is 20 per unit, what is the minimum cost of production?
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This is Post Utme Achievers University 2024 Commerce Question 18. It is one of the objective questions from the 2024 Post Utme Achievers University Commerce examination.
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