Post Utme Bowen University 2024 Economics Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2024 Economics Objective / Multiple Choice

Question 24 POST_UTME_BOWEN_UNIVERSITY • 2024 • ECONOMICS • objective

A firm has a production function F(L, K) = 2L^0.5K^0.5. If the price of labor is ₦100 and the price of capital is ₦200, what is the optimal level of labor and capital?

Answer Options

Correct Answer A. L = 10, K = 5

B. L = 5, K = 10

C. L = 20, K = 2

D. L = 2, K = 20

Correct Answer

Correct Option:

L = 10, K = 5

About This Question

This is Post Utme Bowen University 2024 Economics Question 24. It is one of the objective questions from the 2024 Post Utme Bowen University Economics examination.

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