Post Utme Futa 2025 Economics Question 38

Practice objective / multiple choice question 38 from the 2025 Post Utme Futa Economics examination.

Post Utme Futa 2025 Economics Objective / Multiple Choice
Question 38 POST_UTME_FUTA • 2025 • ECONOMICS • objective

A firm's \cost function is given by C = 100 + 2L + 3K. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and if the firm's revenue function is given by R = 200L + 300K, find the optimal values of L and K that minimize the firm's \cost.

Answer Options

Correct Answer A. L = 50, K = 100
B. L = 100, K = 50
C. L = 200, K = 100
D. L = 100, K = 200
Correct Answer
A
Correct Option:
L = 50, K = 100

About This Question

This is Post Utme Futa 2025 Economics Question 38. It is one of the objective questions from the 2025 Post Utme Futa Economics examination.

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