Post Utme Esut 2024 Geography Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Esut Geography examination.

Post Utme Esut 2024 Geography Objective / Multiple Choice

Question 13 POST_UTME_ESUT • 2024 • GEOGRAPHY • objective

A firm is producing a good with the following production function: Q = 2L^0.5 + 3K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, what is the optimal combination of labor and capital that minimizes the cost of production?

A. L = 4, K = 1

B. L = 1, K = 4

Correct Answer C. L = 2, K = 2

D. L = 1, K = 1

Correct Answer

Correct Option:

L = 2, K = 2

This is Post Utme Esut 2024 Geography Question 13. It is one of the objective questions from the 2024 Post Utme Esut Geography examination.

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