Post Utme Babcock University 2018 Commerce Question 16
Practice objective / multiple choice question 16 from the 2018 Post Utme Babcock University Commerce examination.
A firm produces two goods, X and Y, using two inputs, labor (L) and capital (K). The production function for good X is given by X = 2L^0.4K^0.6, while that for good Y is given by Y = 3L^0.7K^0.3. If the firm has 100 units of labor and 50 units of capital, and the prices of labor and capital are 10 and 20 per unit, respectively, what is the opportunity cost of producing one more unit of good X?
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About This Question
This is Post Utme Babcock University 2018 Commerce Question 16. It is one of the objective questions from the 2018 Post Utme Babcock University Commerce examination.
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