Post Utme Lautech 2019 Economics Question 27

Practice objective / multiple choice question 27 from the 2019 Post Utme Lautech Economics examination.

Post Utme Lautech 2019 Economics Objective / Multiple Choice

Question 27 POST_UTME_LAUTECH • 2019 • ECONOMICS • objective

A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, find the optimal values of L and K.

Answer Options

A. L = 100, K = 400

Correct Answer B. L = 200, K = 200

C. L = 400, K = 100

D. L = 50, K = 500

Correct Answer

Correct Option:

L = 200, K = 200

About This Question

This is Post Utme Lautech 2019 Economics Question 27. It is one of the objective questions from the 2019 Post Utme Lautech Economics examination.

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