Post Utme Christopher University 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2020 Economics Objective / Multiple Choice
Question 18 POST_UTME_CHRISTOPHER_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. The firm's \cost function is given by C = 10L + 20K. Find the firm's profit-maximizing level of L and K.

Answer Options

Correct Answer A. L = 4, K = 4
B. L = 16, K = 1
C. L = 1, K = 16
D. L = 0, K = 0
Correct Answer
A
Correct Option:
L = 4, K = 4

About This Question

This is Post Utme Christopher University 2020 Economics Question 18. It is one of the objective questions from the 2020 Post Utme Christopher University Economics examination.

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