Post Utme Coal City University 2020 Economics Question 19

Practice objective / multiple choice question 19 from the 2020 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2020 Economics Objective / Multiple Choice
Question 19 POST_UTME_COAL_CITY_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's \cost function is given by C = 2L + 3K, where L is labor and K is capital. If the firm's revenue function is given by R = 4L + 5K, calculate the firm's profit-maximizing level of labor and capital.

Answer Options

Correct Answer A. L = 5, K = 3
B. L = 3, K = 5
C. L = 4, K = 4
D. L = 6, K = 2
Correct Answer
A
Correct Option:
L = 5, K = 3

About This Question

This is Post Utme Coal City University 2020 Economics Question 19. It is one of the objective questions from the 2020 Post Utme Coal City University Economics examination.

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