Post Utme Lead City University 2022 Economics Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2022 Economics Objective / Multiple Choice
Question 17 POST_UTME_LEAD_CITY_UNIVERSITY • 2022 • ECONOMICS • objective

A firm has a production function Q = 2L^2 + 3K, where L is labor and K is capital. If the firm's \cost function is C = 10L + 20K, determine the profit-maximizing level of labor and capital.

Answer Options

Correct Answer A. \( L = 5, K = 10 \)
B. \( L = 10, K = 5 \)
C. \( L = 15, K = 2 \)
D. \( L = 20, K = 1 \)
Correct Answer
A
Correct Option:
\( L = 5, K = 10 \)

About This Question

This is Post Utme Lead City University 2022 Economics Question 17. It is one of the objective questions from the 2022 Post Utme Lead City University Economics examination.

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