Post Utme Elizade University 2021 Commerce Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Elizade University Commerce examination.

Post Utme Elizade University 2021 Commerce Objective / Multiple Choice
Question 3 POST_UTME_ELIZADE_UNIVERSITY • 2021 • COMMERCE • objective

A firm's cost function is given by C = 100 + 2L + 3K. If the firm hires 5 units of labor and 10 units of capital, what is its total cost?

Answer Options

A. ₦250
B. ₦350
Correct Answer C. ₦450
D. ₦550
Correct Answer
C
Correct Option:
₦450

About This Question

This is Post Utme Elizade University 2021 Commerce Question 3. It is one of the objective questions from the 2021 Post Utme Elizade University Commerce examination.

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