Post Utme Lasu 2020 Economics Question 2
Practice objective / multiple choice question 2 from the 2020 Post Utme Lasu Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current production is 4 units, and the price of labor is ₦100 per unit, while the price of capital is ₦200 per unit, what is the minimum \cost of producing 4 units of output?
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About This Question
This is Post Utme Lasu 2020 Economics Question 2. It is one of the objective questions from the 2020 Post Utme Lasu Economics examination.
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