Post Utme Greenfield University 2019 Economics Question 17
Practice objective / multiple choice question 17 from the 2019 Post Utme Greenfield University Economics examination.
A firm produces two goods, X and Y, u\sing two inputs, labor and capital. The production function for good X is given by Q_X = 2L^0.5K^0.5, where Q_X is the quantity of good X produced, L is the amount of labor used, and K is the amount of capital used. The production function for good Y is given by Q_Y = 3L^0.2K^0.8. If the firm uses 100 units of labor and 200 units of capital, what is the opportunity \cost of producing one more unit of good X?
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About This Question
This is Post Utme Greenfield University 2019 Economics Question 17. It is one of the objective questions from the 2019 Post Utme Greenfield University Economics examination.
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