Post Utme Elizade University 2022 Economics Question 14

Practice objective / multiple choice question 14 from the 2022 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2022 Economics Objective / Multiple Choice
Question 14 POST_UTME_ELIZADE_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^{0.5}K^{0.5} \). If the firm's output is 100 units and the price of labor is ₦10 per unit, what is the minimum \cost of production?

Answer Options

A. ₦1000
Correct Answer B. ₦2000
C. ₦5000
D. ₦10000
Correct Answer
B
Correct Option:
₦2000

About This Question

This is Post Utme Elizade University 2022 Economics Question 14. It is one of the objective questions from the 2022 Post Utme Elizade University Economics examination.

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