Post Utme Futa 2022 Economics Question 12
Practice objective / multiple choice question 12 from the 2022 Post Utme Futa Economics examination.
A firm produces two goods, X and Y, u\sing two inputs, labor (L) and capital (K). The production functions are given by Qx = 2L + 3K and Qy = 4L + 2K. If the firm wants to produce 10 units of X and 8 units of Y, and the prices of labor and capital are $5 and $10 respectively, what is the minimum \cost of production?
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About This Question
This is Post Utme Futa 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Futa Economics examination.
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