Post Utme Lasu 2024 Economics Question 33

Practice objective / multiple choice question 33 from the 2024 Post Utme Lasu Economics examination.

Post Utme Lasu 2024 Economics Objective / Multiple Choice
Question 33 POST_UTME_LASU • 2024 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^2 + 3K \), where Q is the output, L is the labor, and K is the capital. If the firm's \cost function is \( C = 10L + 20K \), find the \cost-minimizing input combination.

Answer Options

Correct Answer A. \( L = 2, K = 1 \)
B. \( L = 1, K = 2 \)
C. \( L = 3, K = 2 \)
D. \( L = 2, K = 3 \)
Correct Answer
A
Correct Option:
\( L = 2, K = 1 \)

About This Question

This is Post Utme Lasu 2024 Economics Question 33. It is one of the objective questions from the 2024 Post Utme Lasu Economics examination.

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