Post Utme Caleb University 2021 Economics Question 29
Practice objective / multiple choice question 29 from the 2021 Post Utme Caleb University Economics examination.
A firm's \cost function is given by C = 2L + 3K, where C is the \cost, 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 revenue function is given by R = 2L + 3K, what is the firm's profit-maximizing level of labor and capital?
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About This Question
This is Post Utme Caleb University 2021 Economics Question 29. It is one of the objective questions from the 2021 Post Utme Caleb University Economics examination.
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