Post Utme Bells University 2023 Economics Question 26

Practice objective / multiple choice question 26 from the 2023 Post Utme Bells University Economics examination.

Post Utme Bells University 2023 Economics Objective / Multiple Choice
Question 26 POST_UTME_BELLS_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is producing a homogeneous product u\sing a production function Q = 2K^\( 1/2 \) L^\( 1/2 \). If the firm's input prices are w = 10 and r = 20, what is the \cost-minimizing input combination?

Answer Options

Correct Answer A. \( K = 100, L = 50 \)
B. \( K = 50, L = 100 \)
C. \( K = 200, L = 25 \)
D. \( K = 25, L = 200 \)
Correct Answer
A
Correct Option:
\( K = 100, L = 50 \)

About This Question

This is Post Utme Bells University 2023 Economics Question 26. It is one of the objective questions from the 2023 Post Utme Bells University Economics examination.

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