Post Utme Pan Atlantic University 2020 Economics Question 39

Practice objective / multiple choice question 39 from the 2020 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2020 Economics Objective / Multiple Choice
Question 39 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2020 • ECONOMICS • objective

A firm has a production function given by Q = 2L + 3K, where L and K are the quantities of labor and capital used. The \cost function is C = 10L + 20K. Find the optimal quantities of L and K.

Answer Options

Correct Answer A. L = 5, K = 5
B. L = 10, K = 0
C. L = 0, K = 10
D. L = 5, K = 10
Correct Answer
A
Correct Option:
L = 5, K = 5

About This Question

This is Post Utme Pan Atlantic University 2020 Economics Question 39. It is one of the objective questions from the 2020 Post Utme Pan Atlantic University Economics examination.

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