Post Utme Bells University 2019 Economics Question 7

Practice objective / multiple choice question 7 from the 2019 Post Utme Bells University Economics examination.

Post Utme Bells University 2019 Economics Objective / Multiple Choice
Question 7 POST_UTME_BELLS_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, what is the \cost-minimizing 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 Bells University 2019 Economics Question 7. It is one of the objective questions from the 2019 Post Utme Bells University Economics examination.

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