Post Utme Nile University 2017 Commerce Question 31
Practice objective / multiple choice question 31 from the 2017 Post Utme Nile University Commerce examination.
A firm's production function is given by the Cobb-Douglas production function: Q = 2L^0.4K^0.6. If the firm's output is 100 units and the wage rate is ₦50 per hour, what is the minimum amount of capital required to produce this output?
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This is Post Utme Nile University 2017 Commerce Question 31. It is one of the objective questions from the 2017 Post Utme Nile University Commerce examination.
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