Post Utme Futa 2020 Commerce Question 7
Practice objective / multiple choice question 7 from the 2020 Post Utme Futa Commerce examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and it has a budget constraint of 100 units of labor and 50 units of capital, what is the opportunity cost of using labor?
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About This Question
This is Post Utme Futa 2020 Commerce Question 7. It is one of the objective questions from the 2020 Post Utme Futa Commerce examination.
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