Post Utme Coal City University 2019 Economics Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2019 Economics Objective / Multiple Choice

Question 20 POST_UTME_COAL_CITY_UNIVERSITY • 2019 • ECONOMICS • objective

A firm has a production function Q = 2L + 3K, where L is labor and K is capital. If the firm's \cost function is C(L,K) = 2L + 3K + 2LK, find the firm's profit-maximizing level of labor and capital.

Answer Options

A. L = 5, K = 3

B. L = 3, K = 5

Correct Answer C. L = 4, K = 4

D. L = 6, K = 2

Correct Answer

Correct Option:

L = 4, K = 4

About This Question

This is Post Utme Coal City University 2019 Economics Question 20. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.

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