Post Utme Madonna University 2021 Economics Question 37
Practice objective / multiple choice question 37 from the 2021 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 ₦100 per unit and the price of capital is ₦200 per unit, what is the optimal combination of labor and capital that minimizes the \cost of production?
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About This Question
This is Post Utme Madonna University 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Madonna University Economics examination.
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