Post Utme Elizade University 2018 Commerce Question 20
Practice objective / multiple choice question 20 from the 2018 Post Utme Elizade University Commerce examination.
A firm has the following production function: Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to produce 100 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦200 per hour, what is the optimal combination of labor and capital?
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This is Post Utme Elizade University 2018 Commerce Question 20. It is one of the objective questions from the 2018 Post Utme Elizade University Commerce examination.
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