Post Utme Rhema University 2021 Commerce Question 27
Practice objective / multiple choice question 27 from the 2021 Post Utme Rhema University Commerce examination.
A firm's production function is given by Q = 2L^0.5 + 3K^0.5, where Q is the output, L is the labor, and K is the capital. If the firm wants to produce 100 units of output, and the wage rate is ₦100 per hour, and the rental rate of capital is ₦50 per hour, what is the optimal combination of labor and capital?
Answer Options
About This Question
This is Post Utme Rhema University 2021 Commerce Question 27. 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.