Post Utme Madonna University 2019 Economics Question 2
Practice objective / multiple choice question 2 from the 2019 Post Utme Madonna University Economics examination.
A firm has a production function given by Q = 2L^0.5K^0.5, where Q is the output, L is the labor and K is the capital. If the price of labor is 10 and the price of capital is 20, and the firm wants to maximize its profit, what is the optimal level of labor?
Answer Options
About This Question
This is Post Utme Madonna University 2019 Economics Question 2. It is one of the objective questions from the 2019 Post Utme Madonna University Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.