Post Utme Rhema University 2022 Economics Question 10

Practice objective / multiple choice question 10 from the 2022 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2022 Economics Objective / Multiple Choice
Question 10 POST_UTME_RHEMA_UNIVERSITY • 2022 • ECONOMICS • objective

A firm is producing a good with a production function Q = 2L + 3K. If the firm's \cost function is C(L,K) = 10L + 20K, and the firm's revenue function is R(L,K) = 20L + 30K, what is the profit-maximizing level of L and K?

Answer Options

A. (5, 5)
Correct Answer B. (10, 10)
C. (15, 15)
D. (20, 20)
Correct Answer
B
Correct Option:
(10, 10)

About This Question

This is Post Utme Rhema University 2022 Economics Question 10. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.

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