Post Utme Eksu 2019 Economics Question 21

Practice objective / multiple choice question 21 from the 2019 Post Utme Eksu Economics examination.

Post Utme Eksu 2019 Economics Objective / Multiple Choice
Question 21 POST_UTME_EKSU • 2019 • ECONOMICS • objective

The production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's budget constraint is 100L + 200K = 10000, find the optimal values of L and K.

Answer Options

A. L = 100, K = 50
Correct Answer B. L = 50, K = 100
C. L = 100, K = 200
D. L = 200, K = 100
Correct Answer
B
Correct Option:
L = 50, K = 100

About This Question

This is Post Utme Eksu 2019 Economics Question 21. It is one of the objective questions from the 2019 Post Utme Eksu Economics examination.

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