Post Utme Christopher University 2019 Economics Question 39
Practice objective / multiple choice question 39 from the 2019 Post Utme Christopher University Economics examination.
A firm's production function is given by \( Q = 10L^0.5K^0.5 \), where ( Q ) is the output, ( L ) is the labor and ( K ) is the capital. If the firm wants to produce 100 units of output, and the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, what is the minimum \cost of production?
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About This Question
This is Post Utme Christopher University 2019 Economics Question 39. It is one of the objective questions from the 2019 Post Utme Christopher University Economics examination.
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