Post Utme Osustech 2018 Economics Question 39

Practice objective / multiple choice question 39 from the 2018 Post Utme Osustech Economics examination.

Post Utme Osustech 2018 Economics Objective / Multiple Choice

Question 39 POST_UTME_OSUSTECH • 2018 • ECONOMICS • objective

A firm has a production function Q = 2L^0.5K^0.5, where L and K are labor and capital respectively. If the firm's \cost function is given by C(L, K) = 2L + 3K, find the optimal values of L and K u\sing the method of Lagrange multipliers.

Answer Options

Correct Answer A. L = 4, K = 9

B. L = 9, K = 4

C. L = 2, K = 6

D. L = 6, K = 2

Correct Answer

Correct Option:

L = 4, K = 9

About This Question

This is Post Utme Osustech 2018 Economics Question 39. It is one of the objective questions from the 2018 Post Utme Osustech Economics examination.

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