Post Utme Ksu 2017 Commerce Question 20

Practice objective / multiple choice question 20 from the 2017 Post Utme Ksu Commerce examination.

Post Utme Ksu 2017 Commerce Objective / Multiple Choice
Question 20 POST_UTME_KSU • 2017 • COMMERCE • objective

A firm has a cost function given by C = 2L + 3K. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, what is the optimal level of labor and capital to minimize the cost of production?

Answer Options

A. L = 50, K = 100
Correct Answer B. L = 100, K = 50
C. L = 200, K = 25
D. L = 25, K = 200
Correct Answer
B
Correct Option:
L = 100, K = 50

About This Question

This is Post Utme Ksu 2017 Commerce Question 20. It is one of the objective questions from the 2017 Post Utme Ksu Commerce examination.

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