Post Utme Babcock University 2022 Economics Question 15

Practice objective / multiple choice question 15 from the 2022 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2022 Economics Objective / Multiple Choice
Question 15 POST_UTME_BABCOCK_UNIVERSITY • 2022 • ECONOMICS • objective

A country has a production function Y = 2L^0.5K^0.5. If the price of labor is ₦10 and the price of capital is ₦20, what is the optimal combination of labor and capital?

Answer Options

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

About This Question

This is Post Utme Babcock University 2022 Economics Question 15. It is one of the objective questions from the 2022 Post Utme Babcock University Economics examination.

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