Post Utme Futa 2023 Economics Question 25
Practice objective / multiple choice question 25 from the 2023 Post Utme Futa Economics examination.
A monopolist has a production function given by Q = 2L^0.5K^0.5 and a \cost function given by C = 100L + 200K. If the price of the good is ₦100 per unit and the firm's marginal revenue is given by MR = 100 - 2Q, what is the optimal level of labor (L) that the firm should employ?
Answer Options
About This Question
This is Post Utme Futa 2023 Economics Question 25. It is one of the objective questions from the 2023 Post Utme Futa Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.