Post Utme Bowen University 2024 Commerce Question 16
Practice objective / multiple choice question 16 from the 2024 Post Utme Bowen University Commerce examination.
A firm produces two goods, X and Y, using two inputs, labor (L) and capital (K). The production function for good X is given by ( X = 2L^0.5K^{0.25} ), while that for good Y is ( Y = 3L^{0.75}K^{0.125} ). If the firm has 100 units of labor and 150 units of capital, and the prices of labor and capital are ₦50 and ₦100 respectively, what is the opportunity cost of producing one more unit of good X?
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About This Question
This is Post Utme Bowen University 2024 Commerce Question 16. It is one of the objective questions from the 2024 Post Utme Bowen University Commerce examination.
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