Post Utme Futo 2022 Economics Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Futo Economics examination.

Post Utme Futo 2022 Economics Objective / Multiple Choice
Question 10 POST_UTME_FUTO • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L + 3K. The firm's \cost function is given by C = 10L + 20K. Find the firm's profit-maximizing values of L and K.

Answer Options

Correct Answer A. L = 5, K = 10
B. L = 10, K = 5
C. L = 15, K = 20
D. L = 20, K = 15
Correct Answer
A
Correct Option:
L = 5, K = 10

About This Question

This is Post Utme Futo 2022 Economics Question 10. It is one of the objective questions from the 2022 Post Utme Futo Economics examination.

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