Post Utme Esut 2024 Commerce Question 34

Practice objective / multiple choice question 34 from the 2024 Post Utme Esut Commerce examination.

Post Utme Esut 2024 Commerce Objective / Multiple Choice
Question 34 POST_UTME_ESUT • 2024 • COMMERCE • objective

A firm's cost function is given by C = 2L + 3K, where C is the total cost, L is labor, and K is capital. If the firm wants to minimize its total cost, what is the optimal combination of labor and capital?

Answer Options

Correct Answer A. L = 2, K = 3
B. L = 3, K = 2
C. L = 4, K = 1
D. L = 1, K = 4
Correct Answer
A
Correct Option:
L = 2, K = 3

About This Question

This is Post Utme Esut 2024 Commerce Question 34. It is one of the objective questions from the 2024 Post Utme Esut Commerce examination.

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