Post Utme Lasu 2023 Commerce Question 6
Practice objective / multiple choice question 6 from the 2023 Post Utme Lasu Commerce examination.
A firm specializes in producing a single product, which is a type of commodity. The firm's production function is given by the equation ( Q = 100L^0.5K^0.25 ), where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to produce 100 units of the commodity, and it has 4 units of labor and 16 units of capital available, what is the minimum amount of capital it must have to produce 100 units of the commodity?
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About This Question
This is Post Utme Lasu 2023 Commerce Question 6. It is one of the objective questions from the 2023 Post Utme Lasu Commerce examination.
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