Post Utme Caleb University 2019 Commerce Question 36
Practice objective / multiple choice question 36 from the 2019 Post Utme Caleb University Commerce examination.
A firm specializes in producing a single product, which is sold in a competitive market. If the firm's production function is given by Q = 100L^0.5, where Q is the quantity produced and L is the labor input, and the market price of the product is P = 10Q^(-0.5), what is the firm's profit-maximizing level of labor input?
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About This Question
This is Post Utme Caleb University 2019 Commerce Question 36. It is one of the objective questions from the 2019 Post Utme Caleb University Commerce examination.
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