Post Utme Lautech 2018 Economics Question 33
Practice objective / multiple choice question 33 from the 2018 Post Utme Lautech Economics examination.
A firm's \cost function is given by C = 100 + 2L + 3H, where C is \cost, L is labor and H is capital. The firm's revenue function is given by R = 200L + 300H. Find the optimal level of labor and capital that maximizes profit.
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About This Question
This is Post Utme Lautech 2018 Economics Question 33. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.
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