Post Utme Mountain Top University 2021 Economics Question 2
Practice objective / multiple choice question 2 from the 2021 Post Utme Mountain Top University Economics examination.
A farmer in Nigeria produces wheat, which is used to make bread. The production function for wheat is given by Q = 1000L^\( 1/2 \)K^\( 1/2 \), where Q is the quantity of wheat produced, L is the amount of labor used, and K is the amount of capital used. If the farmer uses 100 units of labor and 200 units of capital, calculate the quantity of wheat produced.
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This is Post Utme Mountain Top University 2021 Economics Question 2. It is one of the objective questions from the 2021 Post Utme Mountain Top University Economics examination.
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