Post Utme Redeemers University 2020 Commerce Question 16
Practice objective / multiple choice question 16 from the 2020 Post Utme Redeemers University Commerce examination.
A company has a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the company wants to maximize its profit, what is the optimal level of labor and capital?
Answer Options
About This Question
This is Post Utme Redeemers University 2020 Commerce Question 16. It is one of the objective questions from the 2020 Post Utme Redeemers University Commerce examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.