Post Utme Al Hikmah University 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2022 Economics Objective / Multiple Choice
Question 2 POST_UTME_AL-HIKMAH_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is $10 per hour and the price of capital is $20 per unit, and the firm wants to maximize its profit, what is the optimal level of labor?

Answer Options

A. 10 units
Correct Answer B. 20 units
C. 30 units
D. 40 units
Correct Answer
B
Correct Option:
20 units

About This Question

This is Post Utme Al Hikmah University 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Al Hikmah University Economics examination.

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