Post Utme Lautech 2018 Commerce Question 29
Practice objective / multiple choice question 29 from the 2018 Post Utme Lautech Commerce examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and the price of labor is ₦100 per unit, while the price of capital is ₦200 per unit, what is the minimum cost of production?
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About This Question
This is Post Utme Lautech 2018 Commerce Question 29. It is one of the objective questions from the 2018 Post Utme Lautech Commerce examination.
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