Post Utme Rhema University 2019 Economics Question 24
Practice objective / multiple choice question 24 from the 2019 Post Utme Rhema University Economics examination.
A firm is producing a good u\sing two inputs, labor and capital. The production function is given by Q = 2L^0.5K^0.5. If the price of labor is $10 per unit and the price of capital is $20 per unit, what is the optimal combination of labor and capital that minimizes the \cost of production?
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About This Question
This is Post Utme Rhema University 2019 Economics Question 24. It is one of the objective questions from the 2019 Post Utme Rhema University Economics examination.
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