Post Utme Futo 2024 Economics Question 25

Practice objective / multiple choice question 25 from the 2024 Post Utme Futo Economics examination.

Post Utme Futo 2024 Economics Objective / Multiple Choice
Question 25 POST_UTME_FUTO • 2024 • ECONOMICS • objective

A firm's production function is given by Q = 2L + 3K. If the firm's \cost function is given by C(L, K) = 2L + 3K + 100, and the firm's revenue function is given by R(L, K) = 4L + 6K, what is the firm's optimal input bundle?

Answer Options

Correct Answer A. L = 2, K = 3
B. L = 3, K = 2
C. L = 4, K = 1
D. L = 1, K = 4
Correct Answer
A
Correct Option:
L = 2, K = 3

About This Question

This is Post Utme Futo 2024 Economics Question 25. It is one of the objective questions from the 2024 Post Utme Futo Economics examination.

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