Post Utme Osustech 2024 Economics Question 33

Practice objective / multiple choice question 33 from the 2024 Post Utme Osustech Economics examination.

Post Utme Osustech 2024 Economics Objective / Multiple Choice

Question 33 POST_UTME_OSUSTECH • 2024 • ECONOMICS • objective

A firm has a production function Q = 2L + 3K, where L is labor and K is capital. If the firm has a budget constraint of ₦1000 and the prices of labor and capital are ₦10 and ₦20 respectively, what is the optimal level of labor and capital that the firm will choose?

Answer Options

Correct Answer A. L=50, K=20

B. L=20, K=50

C. L=10, K=30

D. L=30, K=10

Correct Answer

Correct Option:

L=50, K=20

About This Question

This is Post Utme Osustech 2024 Economics Question 33. It is one of the objective questions from the 2024 Post Utme Osustech Economics examination.

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