Post Utme Covenant University 2024 Economics Question 33
Practice objective / multiple choice question 33 from the 2024 Post Utme Covenant University Economics examination.
A firm's production function is given by Q = 2L + 3K. If the price of labor is 10 naira per hour and the price of capital is 20 naira per unit, and the firm is currently producing 100 units of output, what is the opportunity \cost of an additional unit of labor?
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About This Question
This is Post Utme Covenant University 2024 Economics Question 33. It is one of the objective questions from the 2024 Post Utme Covenant University Economics examination.
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