Post Utme Mountain Top University 2023 Commerce Question 29

Practice objective / multiple choice question 29 from the 2023 Post Utme Mountain Top University Commerce examination.

Post Utme Mountain Top University 2023 Commerce Objective / Multiple Choice
Question 29 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2023 • COMMERCE • objective

A company's cost function is given by C = 2L + 3K. If the company wants to minimize its cost, what is the optimal combination of labor and capital?

Answer Options

A. L = 0, K = 0
B. L = 1, K = 1
Correct Answer C. L = 2, K = 2
D. L = 3, K = 3
Correct Answer
C
Correct Option:
L = 2, K = 2

About This Question

This is Post Utme Mountain Top University 2023 Commerce Question 29. It is one of the objective questions from the 2023 Post Utme Mountain Top University Commerce examination.

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