Post Utme Lautech 2022 Economics Question 34

Practice objective / multiple choice question 34 from the 2022 Post Utme Lautech Economics examination.

Post Utme Lautech 2022 Economics Objective / Multiple Choice

Question 34 POST_UTME_LAUTECH • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, find the optimal input combination.

Answer Options

Correct Answer A. L = 100, K = 100

B. L = 200, K = 50

C. L = 50, K = 200

D. L = 0, K = 0

Correct Answer

Correct Option:

L = 100, K = 100

About This Question

This is Post Utme Lautech 2022 Economics Question 34. It is one of the objective questions from the 2022 Post Utme Lautech Economics examination.

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