Post Utme Igbinedion University 2021 Economics Question 6
Practice objective / multiple choice question 6 from the 2021 Post Utme Igbinedion University Economics examination.
A firm's production function is given by Q = 100L^0.5K^0.5, where Q is output, L is labor and K is capital. If the firm's labor and capital are 10 and 20 respectively, calculate the opportunity \cost of an additional unit of labor.
Answer Options
About This Question
This is Post Utme Igbinedion University 2021 Economics Question 6. It is one of the objective questions from the 2021 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.