Post Utme Igbinedion University 2019 Commerce Question 28
Practice objective / multiple choice question 28 from the 2019 Post Utme Igbinedion University Commerce examination.
A firm produces two products, A and B, using two inputs, labor and capital. The production function for product A is given by Q_A = 2L^0.5K^0.5, while the production function for product B is given by Q_B = 3L^0.7K^0.3. If the firm has 100 units of labor and 50 units of capital, what is the opportunity cost of producing one more unit of product B?
Answer Options
About This Question
This is Post Utme Igbinedion University 2019 Commerce Question 28. It is one of the objective questions from the 2019 Post Utme Igbinedion University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.