Post Utme Pan Atlantic University 2024 Economics Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2024 Economics Objective / Multiple Choice

Question 29 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2024 • ECONOMICS • objective

A farmer produces wheat and corn on a 100-hectare farm. The production functions for wheat and corn are given by W = 100x^0.5 and C = 50x^0.5, respectively. If the farmer's budget constraint is 10W + 5C = 1000, what is the optimal allocation of land to wheat and corn?

Answer Options

A. x = 50, W = 100, C = 50

Correct Answer B. x = 75, W = 150, C = 37.5

C. x = 100, W = 100, C = 0

D. x = 25, W = 50, C = 100

Correct Answer

Correct Option:

x = 75, W = 150, C = 37.5

About This Question

This is Post Utme Pan Atlantic University 2024 Economics Question 29. It is one of the objective questions from the 2024 Post Utme Pan Atlantic University Economics examination.

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