Post Utme Osustech 2024 Economics Question 24

Practice objective / multiple choice question 24 from the 2024 Post Utme Osustech Economics examination.

Post Utme Osustech 2024 Economics Objective / Multiple Choice
Question 24 POST_UTME_OSUSTECH • 2024 • ECONOMICS • objective

Consider a firm that produces two goods, A and B. The production function for good A is \( Q_A = 2L_A + 3K_A \) and the production function for good B is \( Q_B = 3L_B + 2K_B \). If the firm has 10 units of labor and 8 units of capital, how many units of good A and good B should the firm produce to maximize profits?

Answer Options

Correct Answer A. Good A: 20 units, Good B: 15 units
B. Good A: 15 units, Good B: 20 units
C. Good A: 10 units, Good B: 10 units
D. Good A: 5 units, Good B: 5 units
Correct Answer
A
Correct Option:
Good A: 20 units, Good B: 15 units

About This Question

This is Post Utme Osustech 2024 Economics Question 24. It is one of the objective questions from the 2024 Post Utme Osustech Economics examination.

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