Post Utme Bsu 2018 Economics Question 24

Practice objective / multiple choice question 24 from the 2018 Post Utme Bsu Economics examination.

Post Utme Bsu 2018 Economics Objective / Multiple Choice
Question 24 POST_UTME_BSU • 2018 • ECONOMICS • objective

A firm has a production function given by Q = 2L + 3K, where Q is the output, L is the labor and K is the capital. If the price of labor is ₦10 per unit and the price of capital is ₦20 per unit, find the optimal level of labor and capital.

Answer Options

Correct Answer A. L = 20 units, K = 10 units
B. L = 10 units, K = 20 units
C. L = 30 units, K = 15 units
D. L = 15 units, K = 30 units
Correct Answer
A
Correct Option:
L = 20 units, K = 10 units

About This Question

This is Post Utme Bsu 2018 Economics Question 24. It is one of the objective questions from the 2018 Post Utme Bsu Economics examination.

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