Post Utme Madonna University 2020 Commerce Question 3
Practice objective / multiple choice question 3 from the 2020 Post Utme Madonna University Commerce examination.
A firm is considering two different production technologies: a traditional technology that requires 10 units of labor to produce 100 units of output, and a modern technology that requires 5 units of labor to produce 100 units of output. If the firm's current labor input is 20 units, what is the opportunity cost of using the modern technology?
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About This Question
This is Post Utme Madonna University 2020 Commerce Question 3. It is one of the objective questions from the 2020 Post Utme Madonna University Commerce examination.
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