Post Utme Covenant University 2017 Economics Question 21
Practice objective / multiple choice question 21 from the 2017 Post Utme Covenant University Economics examination.
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor and H is capital. If the firm hires 16 units of labor and 9 units of capital, what is the opportunity \cost of hiring one more unit of labor?
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About This Question
This is Post Utme Covenant University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Covenant University Economics examination.
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