Post Utme Nile University 2022 Economics Question 29
Practice objective / multiple choice question 29 from the 2022 Post Utme Nile University Economics examination.
Consider a firm operating in a perfectly competitive market with a production function Q = 2L^0.5K^0.5. If the price of the good is $10 and the wage rate is $5 per unit of labor, what is the optimal level of capital (K) that the firm should employ, given that the price of labor is $2 per unit?
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About This Question
This is Post Utme Nile University 2022 Economics Question 29. It is one of the objective questions from the 2022 Post Utme Nile University Economics examination.
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