Post Utme Nile University 2022 Economics Question 28
Practice objective / multiple choice question 28 from the 2022 Post Utme Nile University Economics examination.
A firm has a production function Q = 3L^0.7K^0.3. If the price of the good is $15 and the wage rate is $6 per unit of labor, what is the optimal level of labor (L) that the firm should employ, given that the price of capital is $3 per unit?
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About This Question
This is Post Utme Nile University 2022 Economics Question 28. It is one of the objective questions from the 2022 Post Utme Nile University Economics examination.
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