Post Utme Osustech 2019 Economics Question 15
Practice objective / multiple choice question 15 from the 2019 Post Utme Osustech Economics examination.
A firm has a production function Q = 2L + 3K, where Q is the output, L is the labor, and K is the capital. If the firm wants to produce 20 units of output, and the wage rate is $10 per hour, and the rental rate of capital is $5 per hour, find the optimal quantities of labor and capital.
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About This Question
This is Post Utme Osustech 2019 Economics Question 15. It is one of the objective questions from the 2019 Post Utme Osustech Economics examination.
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