Post Utme Igbinedion University 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2019 Economics Objective / Multiple Choice
Question 3 POST_UTME_IGBINEDION_UNIVERSITY • 2019 • ECONOMICS • objective

A firm has a production function given by Q = 2L^0.5K^0.5. If the firm's \cost function is C = 100 + 20L + 30K, find the firm's profit-maximizing level of labor and capital.

Answer Options

Correct Answer A. L = 10, K = 20
B. L = 20, K = 10
C. L = 30, K = 5
D. L = 5, K = 30
Correct Answer
A
Correct Option:
L = 10, K = 20

About This Question

This is Post Utme Igbinedion University 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Igbinedion University Economics examination.

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