Post Utme Covenant University 2022 Economics Question 29

Practice objective / multiple choice question 29 from the 2022 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2022 Economics Objective / Multiple Choice
Question 29 POST_UTME_COVENANT_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is producing a good with a production function given by Q = 2L^0.5K^0.5. If the firm's techno\logy is characterized by cons\tant returns to scale, what is the firm's \cost function?

Answer Options

Correct Answer A. C(L, K) = 2L^0.5K^0.5
B. C(L, K) = 2L^0.5 + 2K^0.5
C. C(L, K) = 2L + 2K
D. C(L, K) = 2L^0.5K
Correct Answer
A
Correct Option:
C(L, K) = 2L^0.5K^0.5

About This Question

This is Post Utme Covenant University 2022 Economics Question 29. It is one of the objective questions from the 2022 Post Utme Covenant University Economics examination.

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