Post Utme Igbinedion University 2024 Economics Question 37
Practice objective / multiple choice question 37 from the 2024 Post Utme Igbinedion University Economics examination.
A firm is producing a good u\sing two inputs, labor (L) and capital (K). The production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, what is the \cost-minimizing input combination if the firm produces 100 units of output?
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This is Post Utme Igbinedion University 2024 Economics Question 37. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.
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