Post Utme Covenant University 2025 Economics Question 2
Practice objective / multiple choice question 2 from the 2025 Post Utme Covenant University Economics examination.
A firm is considering the production of two goods, X and Y. The production function for good X is given by Q_X = 2L^0.5K^0.5, where L is labor and K is capital. The production function for good Y is given by Q_Y = 3L^0.2K^0.8. If the firm has 100 units of labor and 200 units of capital, what is the optimal combination of labor and capital that maximizes the production of good X?
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This is Post Utme Covenant University 2025 Economics Question 2. It is one of the objective questions from the 2025 Post Utme Covenant University Economics examination.
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