Post Utme Bsu 2020 Economics Question 40

Practice objective / multiple choice question 40 from the 2020 Post Utme Bsu Economics examination.

Post Utme Bsu 2020 Economics Objective / Multiple Choice
Question 40 POST_UTME_BSU • 2020 • ECONOMICS • objective

A firm's production function is given by Q = 100L^0.5K^0.5. If the price of labor (L) is ₦100 per unit and the price of capital (K) is ₦200 per unit, calculate the total revenue (TR) and the total \cost (TC) if the firm produces 100 units of output.

Answer Options

A. TR = ₦100,000, TC = ₦200,000
B. TR = ₦150,000, TC = ₦250,000
Correct Answer C. TR = ₦200,000, TC = ₦300,000
D. TR = ₦250,000, TC = ₦350,000
Correct Answer
C
Correct Option:
TR = ₦200,000, TC = ₦300,000

About This Question

This is Post Utme Bsu 2020 Economics Question 40. It is one of the objective questions from the 2020 Post Utme Bsu Economics examination.

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