Post Utme Pan Atlantic University 2019 Commerce Question 23
Practice objective / multiple choice question 23 from the 2019 Post Utme Pan Atlantic University Commerce examination.
A firm has a production function Q = 2L^0.5K^0.5, 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 5L + 10K = 100, and the price of the good is 5, 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 23. It is one of the objective questions from the 2019 Post Utme Pan Atlantic University Commerce examination.
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