Post Utme Covenant University 2018 Economics Question 15
Practice objective / multiple choice question 15 from the 2018 Post Utme Covenant University Economics examination.
A firm is producing a good with the following production function: Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm is currently producing 100 units of the good, what is the minimum \cost of producing 120 units of the good?
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About This Question
This is Post Utme Covenant University 2018 Economics Question 15. It is one of the objective questions from the 2018 Post Utme Covenant University Economics examination.
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