Post Utme Babcock University 2017 Commerce Question 11
Practice objective / multiple choice question 11 from the 2017 Post Utme Babcock University Commerce examination.
A company's production function is given by the Cobb-Douglas production function: Q = 10L^0.4K^0.6. If the company's output is 100 units, and the price of labor is ₦200 per unit, and the price of capital is ₦300 per unit, what is the optimal combination of labor and capital that the company should use?
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This is Post Utme Babcock University 2017 Commerce Question 11. It is one of the objective questions from the 2017 Post Utme Babcock University Commerce examination.
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