Post Utme Igbinedion University 2020 Economics Question 32
Practice objective / multiple choice question 32 from the 2020 Post Utme Igbinedion University Economics examination.
A firm is producing a good u\sing two inputs, labor and capital. The production function is given by Q = 2L^0.5K^0.5, where Q is the quantity of the good produced, L is the amount of labor used, and K is the amount of capital used. If the firm's budget constraint is given by 2L + 3K = ₦10,000,000, what is the firm's optimal input combination?
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About This Question
This is Post Utme Igbinedion University 2020 Economics Question 32. It is one of the objective questions from the 2020 Post Utme Igbinedion University Economics examination.
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