Post Utme Nile University 2017 Commerce Question 33
Practice objective / multiple choice question 33 from the 2017 Post Utme Nile University Commerce examination.
A firm has a production function given by Q = 3L^0.7K^0.3. If the firm's output is 120 units and the wage rate is ₦60 per hour, what is the minimum amount of capital required to produce this output?
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About This Question
This is Post Utme Nile University 2017 Commerce Question 33. It is one of the objective questions from the 2017 Post Utme Nile University Commerce examination.
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