Post Utme Oau 2017 Economics Question 21

Practice objective / multiple choice question 21 from the 2017 Post Utme Oau Economics examination.

Post Utme Oau 2017 Economics Objective / Multiple Choice

Question 21 POST_UTME_OAU • 2017 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a production function Q = 2L^0.5K^0.5. If the firm's current input prices are w = 10 and r = 20, and it is currently producing 100 units of output, what is the firm's current profit-maximizing input combination?

A. (L, K) = (100, 100)

Correct Answer B. (L, K) = (200, 50)

C. (L, K) = (50, 200)

D. (L, K) = (0, 0)

Correct Answer

Correct Option:

(L, K) = (200, 50)

This is Post Utme Oau 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Oau Economics examination.

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support