Post Utme Oau 2020 Economics Question 31

Practice objective / multiple choice question 31 from the 2020 Post Utme Oau Economics examination.

Post Utme Oau 2020 Economics Objective / Multiple Choice
Question 31 POST_UTME_OAU • 2020 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^2 + 3K \), where Q is the quantity produced, L is labor, and K is capital. If the firm's budget constraint is \( 10L + 5K = 100 \), what is the firm's optimal level of labor and capital?

Answer Options

A. \( L = 5, K = 10 \)
Correct Answer B. \( L = 10, K = 5 \)
C. \( L = 15, K = 3 \)
D. \( L = 20, K = 2 \)
Correct Answer
B
Correct Option:
\( L = 10, K = 5 \)

About This Question

This is Post Utme Oau 2020 Economics Question 31. It is one of the objective questions from the 2020 Post Utme Oau Economics examination.

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