Post Utme Christopher University 2024 Commerce Question 5
Practice objective / multiple choice question 5 from the 2024 Post Utme Christopher University Commerce examination.
A firm produces two goods, A and B, using two inputs, labor (L) and capital (K). The production function for good A is given by ( Q_A = 2L^{0.4}K^{0.6} ), and for good B is ( Q_B = 3L^{0.7}K^{0.3} ). If the firm has 100 units of labor and 80 units of capital, what is the opportunity cost of producing 60 units of good A?
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This is Post Utme Christopher University 2024 Commerce Question 5. It is one of the objective questions from the 2024 Post Utme Christopher University Commerce examination.
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