Post Utme Bowen University 2020 Economics Question 36

Practice objective / multiple choice question 36 from the 2020 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2020 Economics Objective / Multiple Choice

Question 36 POST_UTME_BOWEN_UNIVERSITY • 2020 • ECONOMICS • objective

Consider a firm operating under cons\tant returns to scale. If the firm's production function is given by Q = 2K^\( 1/2 \) L^\( 1/2 \), where Q is output, K is capital, and L is labor, what is the long-run \cost function?

Answer Options

A. C = 2wK^\( 1/2 \) + 2vL^\( 1/2 \)

B. C = 2wK + 2vL

Correct Answer C. C = 2wK^\( 1/2 \) + 2vL

D. C = 2wK + 2vL^\( 1/2 \)

Correct Answer

Correct Option:

C = 2wK^\( 1/2 \) + 2vL

About This Question

This is Post Utme Bowen University 2020 Economics Question 36. It is one of the objective questions from the 2020 Post Utme Bowen University Economics examination.

View More Post Utme Bowen University 2020 Economics Questions More Post Utme Bowen University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support