Post Utme Futo 2022 Commerce Question 8
Practice objective / multiple choice question 8 from the 2022 Post Utme Futo Commerce examination.
A company has a production function given by Q = 2L^{0.5}K^{0.5} . If the company wants to produce 16 units of output, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, what is the minimum cost of production?
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About This Question
This is Post Utme Futo 2022 Commerce Question 8. It is one of the objective questions from the 2022 Post Utme Futo Commerce examination.
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