Post Utme Lautech 2018 Economics Question 35
Practice objective / multiple choice question 35 from the 2018 Post Utme Lautech Economics examination.
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor and H is capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's budget constraint is 100L + 200H = 10000, find the optimal level of labor and capital that maximizes output.
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About This Question
This is Post Utme Lautech 2018 Economics Question 35. It is one of the objective questions from the 2018 Post Utme Lautech Economics examination.
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