Post Utme Babcock University 2020 Commerce Question 24
Practice objective / multiple choice question 24 from the 2020 Post Utme Babcock University Commerce examination.
A firm's production function is given by 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, what is the optimal combination of labor and capital that minimizes the cost of production?
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This is Post Utme Babcock University 2020 Commerce Question 24. It is one of the objective questions from the 2020 Post Utme Babcock University Commerce examination.
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