Post Utme Futa 2024 Economics Question 26
Practice objective / multiple choice question 26 from the 2024 Post Utme Futa Economics examination.
An agricultural firm in Nigeria produces two crops: maize and soybeans. The firm's production function for maize is Qm = 1000L^0.4K^0.3, where Qm is the quantity of maize produced and L and K are labor and capital, respectively. The production function for soybeans is Qs = 800L^0.2K^0.5. If the firm has 100 units of labor and 50 units of capital, what is the total quantity of both crops produced?
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About This Question
This is Post Utme Futa 2024 Economics Question 26. It is one of the objective questions from the 2024 Post Utme Futa Economics examination.
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