Post Utme Eksu 2021 Economics Question 30
Practice objective / multiple choice question 30 from the 2021 Post Utme Eksu Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor (w) is ₦100 and the price of capital (r) is ₦50, and if the firm's budget constraint is 100wL + 50rK = 1000, what is the optimal level of labor (L) and capital (K) that the firm should employ?
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About This Question
This is Post Utme Eksu 2021 Economics Question 30. It is one of the objective questions from the 2021 Post Utme Eksu Economics examination.
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