Post Utme Crawford University 2024 Economics Question 30

Practice objective / multiple choice question 30 from the 2024 Post Utme Crawford University Economics examination.

Post Utme Crawford University 2024 Economics Objective / Multiple Choice
Question 30 POST_UTME_CRAWFORD_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is faced with a budget constraint given by 2L + 3K = 12, where L is the labor, and K is the capital. If the firm wants to maximize its profit, which of the following combinations of labor and capital would be most profitable?

Answer Options

A. L = 2, K = 2
Correct Answer B. L = 4, K = 1
C. L = 6, K = 0
D. L = 0, K = 4
Correct Answer
B
Correct Option:
L = 4, K = 1

About This Question

This is Post Utme Crawford University 2024 Economics Question 30. It is one of the objective questions from the 2024 Post Utme Crawford University Economics examination.

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