Post Utme Coal City University 2021 Economics Question 5

Practice objective / multiple choice question 5 from the 2021 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2021 Economics Objective / Multiple Choice

Question 5 POST_UTME_COAL_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A firm is producing a good with the following production function: Q = 2L^2 + 3K. If the firm's \cost function is given by C = 2L + 3K, what is the firm's optimal level of labor and capital?

Answer Options

Correct Answer A. L = 2, K = 3

B. L = 3, K = 2

C. L = 4, K = 1

D. L = 1, K = 4

Correct Answer

Correct Option:

L = 2, K = 3

About This Question

This is Post Utme Coal City University 2021 Economics Question 5. It is one of the objective questions from the 2021 Post Utme Coal City University Economics examination.

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