Post Utme Coal City University 2024 Economics Question 30
Practice objective / multiple choice question 30 from the 2024 Post Utme Coal City University Economics examination.
Consider a production function given by \( Q = 100K^0.5L^0.5 \), where Q is the output, K is the capital, and L is the labor. If the marginal product of labor is 10, and the wage rate is ₦500, what is the optimal level of labor?
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About This Question
This is Post Utme Coal City University 2024 Economics Question 30. It is one of the objective questions from the 2024 Post Utme Coal City University Economics examination.
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