Post Utme Oau 2017 Economics Question 23

Practice objective / multiple choice question 23 from the 2017 Post Utme Oau Economics examination.

Post Utme Oau 2017 Economics Objective / Multiple Choice

Question 23 POST_UTME_OAU • 2017 • ECONOMICS • objective

A firm's production function is given by Q = 3L^0.6K^0.4. If the firm's current input prices are w = 15 and r = 25, and it is currently producing 150 units of output, what is the firm's current profit-maximizing input combination?

A. (L, K) = (150, 150)

Correct Answer B. (L, K) = (200, 100)

C. (L, K) = (100, 200)

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

Correct Answer

Correct Option:

(L, K) = (200, 100)

This is Post Utme Oau 2017 Economics Question 23. It is one of the objective questions from the 2017 Post Utme Oau Economics examination.

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