Post Utme Covenant University 2022 Economics Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2022 Economics Objective / Multiple Choice

Question 17 POST_UTME_COVENANT_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the optimal input combination.

Answer Options

Correct Answer A. L = 4, K = 4

B. L = 16, K = 1

C. L = 1, K = 16

D. L = 2, K = 2

Correct Answer

Correct Option:

L = 4, K = 4

About This Question

This is Post Utme Covenant University 2022 Economics Question 17. It is one of the objective questions from the 2022 Post Utme Covenant University Economics examination.

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