Post Utme Igbinedion University 2020 Economics Question 12
Practice objective / multiple choice question 12 from the 2020 Post Utme Igbinedion University Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor (w) is ₦100 and the price of capital (r) is ₦50, what is the optimal level of labor (L) if the firm wants to maximize its profit?
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About This Question
This is Post Utme Igbinedion University 2020 Economics Question 12. It is one of the objective questions from the 2020 Post Utme Igbinedion University Economics examination.
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