Post Utme Ims U 2017 Economics Question 2

Practice objective / multiple choice question 2 from the 2017 Post Utme Ims U Economics examination.

Post Utme Ims U 2017 Economics Objective / Multiple Choice

Question 2 POST_UTME_IMS_U • 2017 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^2 + 3K^2 \). If the firm's output is 100 units and the price of labor is ₦10, find the optimal input combination of labor and capital.

A. (L,K) = (5, 5)

B. (L,K) = (10, 10)

Correct Answer C. (L,K) = (15, 15)

D. (L,K) = (20, 20)

Correct Answer

Correct Option:

(L,K) = (15, 15)

This is Post Utme Ims U 2017 Economics Question 2. It is one of the objective questions from the 2017 Post Utme Ims U Economics examination.

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