Post Utme Pan Atlantic University 2023 Economics Question 38

Practice objective / multiple choice question 38 from the 2023 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2023 Economics Objective / Multiple Choice
Question 38 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function is given by Q = 3L^0.5K^0.5. If the firm's current input prices are w = ₦150 and r = ₦300, and it is currently producing 150 units of output, what is the firm's current profit-maximizing input bundle?

Answer Options

Correct Answer A. \( L = 900, K = 900 \)
B. \( L = 450, K = 450 \)
C. \( L = 225, K = 225 \)
D. \( L = 112.5, K = 112.5 \)
Correct Answer
A
Correct Option:
\( L = 900, K = 900 \)

About This Question

This is Post Utme Pan Atlantic University 2023 Economics Question 38. It is one of the objective questions from the 2023 Post Utme Pan Atlantic University Economics examination.

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