Post Utme Eksu 2019 Economics Question 24
Practice objective / multiple choice question 24 from the 2019 Post Utme Eksu Economics examination.
A firm is producing a good u\sing two inputs, labor (L) and capital (K). The production function is given by Q = 2L^0.5K^0.5. The price of labor is ₦100 per unit and the price of capital is ₦200 per unit. The firm's budget constraint is 100L + 200K = 10000. Find the optimal values of L and K.
Answer Options
About This Question
This is Post Utme Eksu 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Eksu Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.