Post Utme Futo 2018 Economics Question 22
Practice objective / multiple choice question 22 from the 2018 Post Utme Futo Economics examination.
A firm's production function is given by \( Q = 2L^2 + 3K \), where ( L ) is labor and ( K ) is capital. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, and the firm's budget constraint is ₦10,000, what is the optimal combination of labor and capital that the firm should employ?
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About This Question
This is Post Utme Futo 2018 Economics Question 22. It is one of the objective questions from the 2018 Post Utme Futo Economics examination.
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