Post Utme Pan Atlantic University 2019 Commerce Question 21
Practice objective / multiple choice question 21 from the 2019 Post Utme Pan Atlantic University Commerce examination.
A firm specializes in the production of a single good, and its production function is given by Q = 100L^0.4K^0.6, where Q is the quantity produced, L is the number of labor hours, and K is the amount of capital. If the firm's budget constraint is given by 10L + 20K = 1000, and the price of the good is 10, what is the firm's optimal level of production?
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About This Question
This is Post Utme Pan Atlantic University 2019 Commerce Question 21. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Commerce examination.
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