Post Utme Bsu 2024 Commerce Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Bsu Commerce examination.

Post Utme Bsu 2024 Commerce Objective / Multiple Choice
Question 4 POST_UTME_BSU • 2024 • COMMERCE • objective

A firm's cost function is given by C = 2L + 3K, where C is cost, L is labor, and K is capital. If the firm wants to minimize cost while producing 100 units of output, what is the optimal combination of labor and capital?

Answer Options

Correct Answer A. L = 50, K = 50
B. L = 75, K = 25
C. L = 100, K = 0
D. L = 0, K = 100
Correct Answer
A
Correct Option:
L = 50, K = 50

About This Question

This is Post Utme Bsu 2024 Commerce Question 4. It is one of the objective questions from the 2024 Post Utme Bsu Commerce examination.

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