Post Utme Lead City University 2021 Economics Question 9

Practice objective / multiple choice question 9 from the 2021 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2021 Economics Objective / Multiple Choice
Question 9 POST_UTME_LEAD_CITY_UNIVERSITY • 2021 • ECONOMICS • objective

A farmer produces wheat and maize. The production functions are given by \( Q_w = 100 - 2L \) and \( Q_m = 50 + 3L \). If the farmer has 20 units of labor, find the optimal allocation of labor between wheat and maize.

Answer Options

A. L = 10, Q_w = 80, Q_m = 70
B. L = 15, Q_w = 70, Q_m = 85
Correct Answer C. L = 20, Q_w = 60, Q_m = 100
D. L = 25, Q_w = 50, Q_m = 115
Correct Answer
C
Correct Option:
L = 20, Q_w = 60, Q_m = 100

About This Question

This is Post Utme Lead City University 2021 Economics Question 9. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.

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