Post Utme Al Hikmah University 2024 Economics Question 40
Practice objective / multiple choice question 40 from the 2024 Post Utme Al Hikmah University Economics examination.
Consider a firm that produces a good u\sing the production function Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's capital (K) is 4 units, what is the optimal level of labor (L) if the firm's output (Q) is 16 units?
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This is Post Utme Al Hikmah University 2024 Economics Question 40. It is one of the objective questions from the 2024 Post Utme Al Hikmah University Economics examination.
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