Post Utme Coal City University 2024 Economics Question 37

Practice objective / multiple choice question 37 from the 2024 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2024 Economics Objective / Multiple Choice
Question 37 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • ECONOMICS • objective

A firm has a production function given by Q = 2L^0.5K^0.5. The firm's \cost function is given by C = 10L + 20K. What is the firm's \cost-minimizing input bundle?

Answer Options

A. L = 4, K = 16
B. L = 16, K = 4
Correct Answer C. L = 8, K = 8
D. L = 2, K = 2
Correct Answer
C
Correct Option:
L = 8, K = 8

About This Question

This is Post Utme Coal City University 2024 Economics Question 37. It is one of the objective questions from the 2024 Post Utme Coal City University Economics examination.

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