Post Utme Ims U 2023 Economics Question 7
Practice objective / multiple choice question 7 from the 2023 Post Utme Ims U Economics examination.
A firm is producing a good u\sing two inputs, labor (L) and capital (K). The production function is given by \( Q = 2L^{0.5}K^{0.5} \). If the firm's techno\logy is such that the marginal product of labor is 0.5 and the marginal product of capital is 0.5, find the firm's optimal input mix.
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About This Question
This is Post Utme Ims U 2023 Economics Question 7. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.
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