Post Utme Eksu 2021 Economics Question 39
Practice objective / multiple choice question 39 from the 2021 Post Utme Eksu Economics examination.
A firm is considering two different production techno\logies: a traditional techno\logy with a production function Q = 2L^0.5K^0.5, and a new techno\logy with a production function Q = 3L^0.7K^0.3. If the firm currently employs 4 units of labor and 2 units of capital, and the input prices are w = ₦100 and r = ₦200, which techno\logy will the firm choose?
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About This Question
This is Post Utme Eksu 2021 Economics Question 39. It is one of the objective questions from the 2021 Post Utme Eksu Economics examination.
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