Post Utme Futo 2023 Economics Question 6
Practice objective / multiple choice question 6 from the 2023 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 price of the good is $10 and the wage rate is $5, what is the optimal level of labor (L) if the firm wants to maximize its profit?
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About This Question
This is Post Utme Futo 2023 Economics Question 6. It is one of the objective questions from the 2023 Post Utme Futo Economics examination.
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