Post Utme Lasu 2017 Economics Question 7

Practice objective / multiple choice question 7 from the 2017 Post Utme Lasu Economics examination.

Post Utme Lasu 2017 Economics Objective / Multiple Choice
Question 7 POST_UTME_LASU • 2017 • ECONOMICS • objective

A firm has a production function given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the optimal level of labor and capital that will maximize the firm's profits.

Answer Options

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

About This Question

This is Post Utme Lasu 2017 Economics Question 7. It is one of the objective questions from the 2017 Post Utme Lasu Economics examination.

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