Post Utme Al Hikmah University 2025 Economics Question 7
Practice objective / multiple choice question 7 from the 2025 Post Utme Al Hikmah University Economics examination.
A firm is producing a good with a production function of Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is $10 per unit and the price of capital is $20 per unit, and if the firm is currently producing 100 units of the good, what is the opportunity \cost of producing one more unit of the good?
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This is Post Utme Al Hikmah University 2025 Economics Question 7. It is one of the objective questions from the 2025 Post Utme Al Hikmah University Economics examination.
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