Post Utme Futo 2024 Economics Question 9

Practice objective / multiple choice question 9 from the 2024 Post Utme Futo Economics examination.

Post Utme Futo 2024 Economics Objective / Multiple Choice
Question 9 POST_UTME_FUTO • 2024 • ECONOMICS • objective

A firm is faced with the following production function: Q = 2L + 3K. The firm's \cost function is C = 10L + 20K. What is the firm's profit-maximizing level of L and K?

Answer Options

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

About This Question

This is Post Utme Futo 2024 Economics Question 9. It is one of the objective questions from the 2024 Post Utme Futo Economics examination.

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