Post Utme Mountain Top University 2024 Economics Question 39

Practice objective / multiple choice question 39 from the 2024 Post Utme Mountain Top University Economics examination.

Post Utme Mountain Top University 2024 Economics Objective / Multiple Choice

Question 39 POST_UTME_MOUNTAIN_TOP_UNIVERSITY • 2024 • ECONOMICS • objective

A firm is producing a good with the following production function: Q = 2L^2 + 3K^2. If the price of labor increases by 20% and the price of capital increases by 15%, what is the new \cost-minimizing input combination?

Answer Options

Correct Answer A. L = 10, K = 5

B. L = 5, K = 10

C. L = 15, K = 3

D. L = 3, K = 15

Correct Answer

Correct Option:

L = 10, K = 5

About This Question

This is Post Utme Mountain Top University 2024 Economics Question 39. It is one of the objective questions from the 2024 Post Utme Mountain Top University Economics examination.

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