Post Utme Caleb University 2021 Economics Question 27
Practice objective / multiple choice question 27 from the 2021 Post Utme Caleb University Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the output, L is the labor and K is the capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's budget constraint is ₦10,000, what is the optimal level of labor and capital?
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About This Question
This is Post Utme Caleb University 2021 Economics Question 27. It is one of the objective questions from the 2021 Post Utme Caleb University Economics examination.
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