Post Utme Al Hikmah University 2021 Economics Question 22
Practice objective / multiple choice question 22 from the 2021 Post Utme Al Hikmah University Economics examination.
A firm is considering two different production techno\logies: a traditional techno\logy that requires 10 units of labor and 5 units of capital to produce 100 units of output, and a modern techno\logy that requires 5 units of labor and 10 units of capital to produce 150 units of output. If the wage rate is ₦100 per unit of labor and the rental rate is ₦200 per unit of capital, which techno\logy should the firm adopt?
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About This Question
This is Post Utme Al Hikmah University 2021 Economics Question 22. It is one of the objective questions from the 2021 Post Utme Al Hikmah University Economics examination.
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