Post Utme Coal City University 2019 Economics Question 6
Practice objective / multiple choice question 6 from the 2019 Post Utme Coal City University Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and if the firm's budget constraint is given by 100L + 200K = ₦10000, determine the optimal values of L and K.
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About This Question
This is Post Utme Coal City University 2019 Economics Question 6. It is one of the objective questions from the 2019 Post Utme Coal City University Economics examination.
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