Post Utme Babcock University 2021 Commerce Question 7
Practice objective / multiple choice question 7 from the 2021 Post Utme Babcock University Commerce examination.
A company's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to produce 100 units of output, and the wage rate is ₦100 per unit of labor, and the rental rate of capital is ₦200 per unit of capital, how much should the company hire in terms of labor and capital?
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About This Question
This is Post Utme Babcock University 2021 Commerce Question 7. It is one of the objective questions from the 2021 Post Utme Babcock University Commerce examination.
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