Post Utme Crawford University 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2018 Economics Objective / Multiple Choice
Question 3 POST_UTME_CRAWFORD_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's production function is given by \( Q = 10L^{\frac{1}{2}}K^{\frac{1}{2}} \). If the firm's input prices are \( w_L = 10 \) and \( w_K = 20 \), what is the firm's optimal input combination?

Answer Options

A. \( L = 10, K = 20 \)
B. \( L = 20, K = 10 \)
Correct Answer C. \( L = 5, K = 5 \)
D. \( L = 20, K = 20 \)
Correct Answer
C
Correct Option:
\( L = 5, K = 5 \)

About This Question

This is Post Utme Crawford University 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Crawford University Economics examination.

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