Post Utme Covenant University 2021 Economics Question 38
Practice objective / multiple choice question 38 from the 2021 Post Utme Covenant University Economics examination.
A farmer produces wheat u\sing a production function given by Q = 100K^\( 1/2 \)L^\( 1/2 \), where Q is the quantity of wheat produced, K is the amount of capital used, and L is the amount of labor used. If the price of wheat is ₦20 per unit and the price of capital is ₦10 per unit, what is the optimal level of capital and labor to produce?
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About This Question
This is Post Utme Covenant University 2021 Economics Question 38. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.
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