Post Utme Lasu 2018 Economics Question 1
Practice objective / multiple choice question 1 from the 2018 Post Utme Lasu Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, and if the firm's budget constraint is 50L + 100K = ₦10,000, what is the optimal level of labor (L) that the firm should employ?
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About This Question
This is Post Utme Lasu 2018 Economics Question 1. It is one of the objective questions from the 2018 Post Utme Lasu Economics examination.
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