Post Utme Futa 2023 Economics Question 9
Practice objective / multiple choice question 9 from the 2023 Post Utme Futa Economics examination.
A firm is producing a good with a production function Q = 2L^0.5K^0.5, where L is labor and K is capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the optimal level of labor and capital that maximizes profit.
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About This Question
This is Post Utme Futa 2023 Economics Question 9. It is one of the objective questions from the 2023 Post Utme Futa Economics examination.
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