Post Utme Osustech 2023 Economics Question 32

Practice objective / multiple choice question 32 from the 2023 Post Utme Osustech Economics examination.

Post Utme Osustech 2023 Economics Objective / Multiple Choice
Question 32 POST_UTME_OSUSTECH • 2023 • ECONOMICS • objective

A firm's \cost function is given by C = 2L + 3K. The firm's revenue function is given by R = 4L + 2K. What is the firm's profit-maximizing level of L and K?

Answer Options

Correct Answer A. L = 2, K = 1
B. L = 1, K = 2
C. L = 3, K = 1
D. L = 1, K = 3
Correct Answer
A
Correct Option:
L = 2, K = 1

About This Question

This is Post Utme Osustech 2023 Economics Question 32. It is one of the objective questions from the 2023 Post Utme Osustech Economics examination.

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