Post Utme Rhema University 2019 Economics Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2019 Economics Objective / Multiple Choice

Question 34 POST_UTME_RHEMA_UNIVERSITY • 2019 • ECONOMICS • objective

A firm is producing a good u\sing a production function given by \( Q = 2L^2 + 3K \). The firm's \cost function is given by \( C = 10L + 20K \). Find the \cost-minimizing input bundle.

Answer Options

Correct Answer A. L = 2, K = 1

B. L = 1, K = 2

C. L = 3, K = 0

D. L = 0, K = 3

Correct Answer

Correct Option:

L = 2, K = 1

About This Question

This is Post Utme Rhema University 2019 Economics Question 34. It is one of the objective questions from the 2019 Post Utme Rhema University Economics examination.

View More Post Utme Rhema University 2019 Economics Questions More Post Utme Rhema University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support