Post Utme Futo 2019 Economics Question 36
Practice objective / multiple choice question 36 from the 2019 Post Utme Futo Economics examination.
Consider a firm operating in a perfectly competitive market with a production function Q = 2L^0.5K^0.5. If the firm's current production is 16 units and the wage rate is ₦100 per unit of labor, while the rental rate for capital is ₦200 per unit, calculate the opportunity \cost of one additional unit of labor.
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About This Question
This is Post Utme Futo 2019 Economics Question 36. It is one of the objective questions from the 2019 Post Utme Futo Economics examination.
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