Post Utme Redeemers University 2018 Commerce Question 6
Practice objective / multiple choice question 6 from the 2018 Post Utme Redeemers University Commerce examination.
A firm specializes in producing a particular product. The production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the number of labor units, and K is the number of capital units. If the firm wants to produce 100 units of the product, and it has 4 labor units and 9 capital units available, what is the opportunity cost of using the last labor unit?
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About This Question
This is Post Utme Redeemers University 2018 Commerce Question 6. It is one of the objective questions from the 2018 Post Utme Redeemers University Commerce examination.
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