Post Utme Crawford University 2020 Economics Question 13

Practice objective / multiple choice question 13 from the 2020 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2020 Economics Objective / Multiple Choice

Question 13 POST_UTME_CRAWFORD_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's production function is given by Q = 2L^2 + 3K. The firm's \cost function is C(L, K) = 2L + 3K. Find the firm's profit-maximizing values of L and K.

Answer Options

Correct Answer A. L = 2, K = 3

B. L = 3, K = 2

C. L = 4, K = 1

D. L = 1, K = 4

Correct Answer

Correct Option:

L = 2, K = 3

About This Question

This is Post Utme Crawford University 2020 Economics Question 13. It is one of the objective questions from the 2020 Post Utme Crawford University Economics examination.

View More Post Utme Crawford University 2020 Economics Questions More Post Utme Crawford University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support