Post Utme Greenfield University 2022 Commerce Question 10
Practice objective / multiple choice question 10 from the 2022 Post Utme Greenfield University Commerce examination.
A company has the following production function: Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to produce 100 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦200 per hour, what is the optimal combination of labor and capital?
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This is Post Utme Greenfield University 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Greenfield University Commerce examination.
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