Post Utme Redeemers University 2017 Commerce Question 4
Practice objective / multiple choice question 4 from the 2017 Post Utme Redeemers University Commerce examination.
A firm's cost function is given by C(L,K) = 2L + 3K. If the firm wants to minimize its cost, and the price of labor is ₦10 per unit, and the price of capital is ₦20 per unit, how many units of labor should the firm hire?
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About This Question
This is Post Utme Redeemers University 2017 Commerce Question 4. It is one of the objective questions from the 2017 Post Utme Redeemers University Commerce examination.
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