Post Utme Lead City University 2022 Economics Question 15
Practice objective / multiple choice question 15 from the 2022 Post Utme Lead City University Economics examination.
A firm's production function is given by Q = 100L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and if the firm's budget constraint is given by 100L + 200K = ₦100,000, what is the firm's optimal level of capital?
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About This Question
This is Post Utme Lead City University 2022 Economics Question 15. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.
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