Post Utme Babcock University 2017 Economics Question 33

Practice objective / multiple choice question 33 from the 2017 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2017 Economics Objective / Multiple Choice
Question 33 POST_UTME_BABCOCK_UNIVERSITY • 2017 • ECONOMICS • objective

A firm faces a production function Q = 2L^0.5K^0.5. If the firm's \cost function is C(L,K) = 10L + 20K and the market price is ₦100, find the profit-maximizing values of L and K.

Answer Options

A. L = 100, K = 100
B. L = 200, K = 50
C. L = 50, K = 200
Correct Answer D. L = 150, K = 150
Correct Answer
D
Correct Option:
L = 150, K = 150

About This Question

This is Post Utme Babcock University 2017 Economics Question 33. It is one of the objective questions from the 2017 Post Utme Babcock University Economics examination.

View More Post Utme Babcock University 2017 Economics Questions More Post Utme Babcock University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support