Post Utme Bowen University 2018 Economics Question 13

Practice objective / multiple choice question 13 from the 2018 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2018 Economics Objective / Multiple Choice
Question 13 POST_UTME_BOWEN_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, find the optimal combination of labor and capital.

Answer Options

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

About This Question

This is Post Utme Bowen University 2018 Economics Question 13. It is one of the objective questions from the 2018 Post Utme Bowen University Economics examination.

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