Post Utme Redeemers University 2025 Economics Question 1

Practice objective / multiple choice question 1 from the 2025 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2025 Economics Objective / Multiple Choice
Question 1 POST_UTME_REDEEMERS_UNIVERSITY • 2025 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor (L) is ₦100 per unit and the price of capital (K) is ₦200 per unit, what is the optimal combination of L and K that minimizes the \cost of production?

Answer Options

A. L = 4, K = 1
Correct Answer B. L = 2, K = 2
C. L = 1, K = 4
D. L = 0, K = 0
Correct Answer
B
Correct Option:
L = 2, K = 2

About This Question

This is Post Utme Redeemers University 2025 Economics Question 1. It is one of the objective questions from the 2025 Post Utme Redeemers University Economics examination.

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