Post Utme Covenant University 2024 Commerce Question 2
Practice objective / multiple choice question 2 from the 2024 Post Utme Covenant University Commerce examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦200 per hour, what is the minimum cost of production?
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About This Question
This is Post Utme Covenant University 2024 Commerce Question 2. It is one of the objective questions from the 2024 Post Utme Covenant University Commerce examination.
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