Post Utme Redeemers University 2023 Economics Question 36

Practice objective / multiple choice question 36 from the 2023 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2023 Economics Objective / Multiple Choice

Question 36 POST_UTME_REDEEMERS_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function is given by Q = 2L + 3K. If the firm's \cost function is given by C(L, K) = 2L^2 + 10K + 5, what is the firm's profit function?

Answer Options

Correct Answer A. π(L, K) = 2L^2 + 3K + 5

B. π(L, K) = 2L + 3K + 5

C. π(L, K) = 2L^2 + 10K

D. π(L, K) = 2L + 3K

Correct Answer

Correct Option:

π(L, K) = 2L^2 + 3K + 5

About This Question

This is Post Utme Redeemers University 2023 Economics Question 36. It is one of the objective questions from the 2023 Post Utme Redeemers University Economics examination.

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