Post Utme Coal City University 2019 Economics Question 19
Practice objective / multiple choice question 19 from the 2019 Post Utme Coal City University Economics examination.
A farmer produces wheat and maize. The production functions are given by W = 2L + 3K and M = 3L + 2K, where L is labor and K is capital. If the farmer's income is ₦1000 and the prices of wheat and maize are ₦5 and ₦3 respectively, find the optimal bundle of labor and capital u\sing Lagrange multipliers.
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About This Question
This is Post Utme Coal City University 2019 Economics Question 19. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.
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