Post Utme Lautech 2023 Economics Question 12
Practice objective / multiple choice question 12 from the 2023 Post Utme Lautech Economics examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm is currently producing 100 units of output, what is the minimum \cost of producing 120 units of output?
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About This Question
This is Post Utme Lautech 2023 Economics Question 12. It is one of the objective questions from the 2023 Post Utme Lautech Economics examination.
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