Post Utme Rhema University 2021 Commerce Question 2
Practice objective / multiple choice question 2 from the 2021 Post Utme Rhema University Commerce examination.
A company's production function is given by Q = 2L^0.5 + 3K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, what is the optimal combination of labor and capital that minimizes the cost of production?
Answer Options
About This Question
This is Post Utme Rhema University 2021 Commerce Question 2. It is one of the objective questions from the 2021 Post Utme Rhema 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.