Post Utme Greenfield University 2023 Economics Question 11

Practice objective / multiple choice question 11 from the 2023 Post Utme Greenfield University Economics examination.

Post Utme Greenfield University 2023 Economics Objective / Multiple Choice
Question 11 POST_UTME_GREENFIELD_UNIVERSITY • 2023 • ECONOMICS • objective

The production function is given by Q = 2L^0.5K^0.5. If the price of labor \( P_L \) is ₦100 and the price of capital \( P_K \) is ₦200, calculate the opportunity \cost of labor in terms of capital.

Answer Options

Correct Answer A. 0.5K
B. K^0.5
C. 2L^0.5
D. 4L
Correct Answer
A
Correct Option:
0.5K

About This Question

This is Post Utme Greenfield University 2023 Economics Question 11. It is one of the objective questions from the 2023 Post Utme Greenfield University Economics examination.

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