Post Utme Madonna University 2022 Commerce Question 2
Practice objective / multiple choice question 2 from the 2022 Post Utme Madonna University Commerce examination.
A company has a production function given by Q = 2L^0.5K^0.5. If the company wants to produce 16 units of output, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, what is the minimum cost of production?
Answer Options
About This Question
This is Post Utme Madonna University 2022 Commerce Question 2. It is one of the objective questions from the 2022 Post Utme Madonna University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.