Post Utme Mountain Top University 2021 Commerce Question 16
Practice objective / multiple choice question 16 from the 2021 Post Utme Mountain Top University Commerce examination.
A firm's production function is 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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This is Post Utme Mountain Top University 2021 Commerce Question 16. It is one of the objective questions from the 2021 Post Utme Mountain Top University Commerce examination.
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