Post Utme Lautech 2024 Commerce Question 12
Practice objective / multiple choice question 12 from the 2024 Post Utme Lautech Commerce examination.
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, and the firm wants to maximize its profit, what is the optimal level of labor (L) and capital (K)?
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This is Post Utme Lautech 2024 Commerce Question 12. It is one of the objective questions from the 2024 Post Utme Lautech Commerce examination.
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