Post Utme Igbinedion University 2020 Economics Question 34
Practice objective / multiple choice question 34 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?
Answer Options
About This Question
This is Post Utme Igbinedion University 2020 Economics Question 34. It is one of the objective questions from the 2020 Post Utme Igbinedion University Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.