Post Utme Delsu 2019 Commerce Question 38

Practice objective / multiple choice question 38 from the 2019 Post Utme Delsu Commerce examination.

Post Utme Delsu 2019 Commerce Objective / Multiple Choice
Question 38 POST_UTME_DELSU • 2019 • COMMERCE • objective

A firm's cost function is given by C = 100 + 2L + 3K. If the firm's current input prices are w_L = 10 and w_K = 20, what is the firm's optimal input combination?

Answer Options

Correct Answer A. (L, K) = (50, 50)
B. (L, K) = (100, 0)
C. (L, K) = (0, 100)
D. (L, K) = (0, 0)
Correct Answer
A
Correct Option:
(L, K) = (50, 50)

About This Question

This is Post Utme Delsu 2019 Commerce Question 38. It is one of the objective questions from the 2019 Post Utme Delsu Commerce examination.

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