Post Utme Covenant University 2024 Economics Question 19
Practice objective / multiple choice question 19 from the 2024 Post Utme Covenant University Economics examination.
A firm is producing a good with the following production function: Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to produce 100 units of the good, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, what is the minimum \cost of producing 100 units of the good?
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This is Post Utme Covenant University 2024 Economics Question 19. It is one of the objective questions from the 2024 Post Utme Covenant University Economics examination.
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