Post Utme Ims U 2021 Economics Question 7
Practice objective / multiple choice question 7 from the 2021 Post Utme Ims U Economics examination.
A firm's production function is given by Q = 100L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's budget constraint is 100L + 200K = ₦10,000, find the optimal level of labor and capital.
Answer Options
About This Question
This is Post Utme Ims U 2021 Economics Question 7. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.