Post Utme Futo 2021 Economics Question 26
Practice objective / multiple choice question 26 from the 2021 Post Utme Futo Economics examination.
Consider a firm operating in a perfectly competitive market with a production function given by Q = 2L^0.5K^0.5. If the firm's current input prices are w_L = 10 and w_K = 20, and it wishes to maximize its profit, what is the optimal level of labor (L) it should employ, given that the market price of its output is P = 50?
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About This Question
This is Post Utme Futo 2021 Economics Question 26. It is one of the objective questions from the 2021 Post Utme Futo Economics examination.
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