Post Utme Crawford University 2020 Commerce Question 2
Practice objective / multiple choice question 2 from the 2020 Post Utme Crawford University Commerce examination.
A company's production function is given by Q = 2L^0.5K^0.5. If the company wants to produce 16 units of output, and the wage rate is ₦10 per hour, and the rental rate is ₦5 per unit of capital, what is the minimum cost of production?
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About This Question
This is Post Utme Crawford University 2020 Commerce Question 2. It is one of the objective questions from the 2020 Post Utme Crawford University Commerce examination.
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