Post Utme Madonna University 2018 Economics Question 6
Practice objective / multiple choice question 6 from the 2018 Post Utme Madonna 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 = ₦10000, what is the firm's optimal level of output?
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About This Question
This is Post Utme Madonna University 2018 Economics Question 6. It is one of the objective questions from the 2018 Post Utme Madonna University Economics examination.
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