Post Utme Al Hikmah University 2019 Commerce Question 40
Practice objective / multiple choice question 40 from the 2019 Post Utme Al Hikmah University Commerce examination.
A firm produces two products, A and B, using two inputs, labor and capital. The production function for product A is given by Q_A = 2L^0.5K^0.5, where Q_A is the quantity of product A produced, L is the amount of labor used, and K is the amount of capital used. The production function for product B is given by Q_B = 3L^0.7K^0.3. If the firm has 100 units of labor and 150 units of capital, how many units of product A and product B should the firm produce to maximize profits?
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About This Question
This is Post Utme Al Hikmah University 2019 Commerce Question 40. It is one of the objective questions from the 2019 Post Utme Al Hikmah University Commerce examination.
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