Post Utme Al Hikmah University 2017 Commerce Question 4
Practice objective / multiple choice question 4 from the 2017 Post Utme Al Hikmah University Commerce examination.
A firm has a production function 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, what is the optimal combination of L and K that minimizes the cost of production?
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This is Post Utme Al Hikmah University 2017 Commerce Question 4. It is one of the objective questions from the 2017 Post Utme Al Hikmah University Commerce examination.
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