Post Utme Joseph Ayo Babalola University 2023 Economics Question 31

Practice objective / multiple choice question 31 from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2023 Economics Objective / Multiple Choice
Question 31 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function is given by Q = 2L^2 + 3K. The firm's \cost function is C(L, K) = 2L + 3K. Find the firm's optimal input bundle of L and K.

Answer Options

Correct Answer A. L = 2, K = 3
B. L = 3, K = 2
C. L = 4, K = 1
D. L = 5, K = 0
Correct Answer
A
Correct Option:
L = 2, K = 3

About This Question

This is Post Utme Joseph Ayo Babalola University 2023 Economics Question 31. It is one of the objective questions from the 2023 Post Utme Joseph Ayo Babalola University Economics examination.

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