Post Utme Noun 2020 Economics Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Noun Economics examination.

Post Utme Noun 2020 Economics Objective / Multiple Choice
Question 20 POST_UTME_NOUN • 2020 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L + 3K \). If the prices of labor and capital are ₦10 and ₦20 respectively, find the firm's optimal input mix.

Answer Options

A. L=10, K=5
B. L=5, K=10
Correct Answer C. L=15, K=10
D. L=10, K=15
Correct Answer
C
Correct Option:
L=15, K=10

About This Question

This is Post Utme Noun 2020 Economics Question 20. It is one of the objective questions from the 2020 Post Utme Noun Economics examination.

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