Post Utme Mountain Top University 2019 Economics Question 16
Practice objective / multiple choice question 16 from the 2019 Post Utme Mountain Top University Economics examination.
Consider a production function given by Q = 100K^\( 1/2 \)L^\( 1/2 \), where Q is output, K is capital, and L is labor. If the price of capital is ₦100 per unit and the price of labor is ₦50 per unit, and if the firm's objective is to maximize profits, what is the optimal combination of capital and labor?
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About This Question
This is Post Utme Mountain Top University 2019 Economics Question 16. It is one of the objective questions from the 2019 Post Utme Mountain Top University Economics examination.
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