Post Utme Babcock University 2020 Economics Question 23

Practice objective / multiple choice question 23 from the 2020 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2020 Economics Objective / Multiple Choice
Question 23 POST_UTME_BABCOCK_UNIVERSITY • 2020 • ECONOMICS • objective

A farmer produces wheat u\sing the production function Q = 1000L^0.5K^0.5, where L is labor and K is capital. If the price of wheat is ₦100 per unit and the price of labor is ₦20 per unit, determine the optimal level of labor and capital.

Answer Options

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

About This Question

This is Post Utme Babcock University 2020 Economics Question 23. It is one of the objective questions from the 2020 Post Utme Babcock University Economics examination.

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