Post Utme Afe Babalola University 2023 Economics Question 36
Practice objective / multiple choice question 36 from the 2023 Post Utme Afe Babalola University Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor (L) is ₦100 per unit and the price of capital (K) is ₦200 per unit, and the firm's budget constraint is 100L + 200K = ₦10,000, what is the firm's optimal level of output?
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This is Post Utme Afe Babalola University 2023 Economics Question 36. It is one of the objective questions from the 2023 Post Utme Afe Babalola University Economics examination.
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