Post Utme Osustech 2019 Economics Question 4

Practice objective / multiple choice question 4 from the 2019 Post Utme Osustech Economics examination.

Post Utme Osustech 2019 Economics Objective / Multiple Choice
Question 4 POST_UTME_OSUSTECH • 2019 • ECONOMICS • objective

A firm has the following production function: \( Q = 10L^{\frac{1}{2}}K^{\frac{1}{2}} \). The prices of labor and capital are \( P_L = 10 \) and \( P_K = 20 \), respectively. Find the firm's \cost function.

Answer Options

Correct Answer A. \( C = 10L^{\frac{1}{2}}K^{\frac{1}{2}} + 20L + 40K \)
B. \( C = 10L^{\frac{1}{2}}K^{\frac{1}{2}} + 20L + 80K \)
C. \( C = 10L^{\frac{1}{2}}K^{\frac{1}{2}} + 40L + 80K \)
D. \( C = 10L^{\frac{1}{2}}K^{\frac{1}{2}} + 80L + 160K \)
Correct Answer
A
Correct Option:
\( C = 10L^{\frac{1}{2}}K^{\frac{1}{2}} + 20L + 40K \)

About This Question

This is Post Utme Osustech 2019 Economics Question 4. It is one of the objective questions from the 2019 Post Utme Osustech Economics examination.

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