Post Utme Afe Babalola University 2022 Commerce Question 17
Practice objective / multiple choice question 17 from the 2022 Post Utme Afe Babalola University Commerce examination.
A company's production function is given by Q = 2L^0.5K^0.5. If the company wants to produce 400 units of output, and the wage rate is ₦10 per hour, and the rental rate is ₦5 per unit of capital, what is the minimum cost of production?
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This is Post Utme Afe Babalola University 2022 Commerce Question 17. It is one of the objective questions from the 2022 Post Utme Afe Babalola University Commerce examination.
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