Post Utme Joseph Ayo Babalola University 2019 Economics Question 35
Practice objective / multiple choice question 35 from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.
The government of a country is considering a policy to increase agricultural production. The production function for a particular crop is given by the equation Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm is currently producing 100 units of output, what is the total revenue?
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This is Post Utme Joseph Ayo Babalola University 2019 Economics Question 35. It is one of the objective questions from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.
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