Post Utme Mountain Top University 2021 Commerce Question 14
Practice objective / multiple choice question 14 from the 2021 Post Utme Mountain Top University Commerce examination.
A firm has a production function given by Q = 2L^0.5K^0.5. 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 Mountain Top University 2021 Commerce Question 14. It is one of the objective questions from the 2021 Post Utme Mountain Top University Commerce examination.
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