Post Utme Greenfield University 2017 Economics Question 10
Practice objective / multiple choice question 10 from the 2017 Post Utme Greenfield University Economics examination.
A firm produces a good u\sing a production function given by Q = 10L^0.5K^0.5, where Q is the quantity produced, L is the amount of labor used, and K is the amount of capital used. If the price of the good is ₦100 and the firm's budget constraint is given by 100Q = ₦1000, what is the optimal quantity of labor to use?
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About This Question
This is Post Utme Greenfield University 2017 Economics Question 10. It is one of the objective questions from the 2017 Post Utme Greenfield University Economics examination.
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