Post Utme Joseph Ayo Babalola University 2017 Economics Question 14
Practice objective / multiple choice question 14 from the 2017 Post Utme Joseph Ayo Babalola University 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 if the firm's budget constraint is given by 100L + 200K = ₦100,000, what is the firm's optimal level of labor?
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This is Post Utme Joseph Ayo Babalola University 2017 Economics Question 14. It is one of the objective questions from the 2017 Post Utme Joseph Ayo Babalola University Economics examination.
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