Post Utme Futa 2023 Economics Question 23
Practice objective / multiple choice question 23 from the 2023 Post Utme Futa Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and if the firm's budget constraint is given by 100L + 200K = ₦10000, what is the optimal level of labor (L) that the firm should employ?
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About This Question
This is Post Utme Futa 2023 Economics Question 23. It is one of the objective questions from the 2023 Post Utme Futa Economics examination.
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