Post Utme Rhema University 2022 Economics Question 3

Practice objective / multiple choice question 3 from the 2022 Post Utme Rhema University Economics examination.

Post Utme Rhema University 2022 Economics Objective / Multiple Choice

Question 3 POST_UTME_RHEMA_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^2 + 3K, where L is labor and K is capital. The firm's \cost function is given by C = 10L + 20K. Find the firm's profit-maximizing level of labor and capital.

Answer Options

Correct Answer A. L = 2 units, K = 3 units

B. L = 3 units, K = 2 units

C. L = 1 unit, K = 4 units

D. L = 4 units, K = 1 unit

Correct Answer

Correct Option:

L = 2 units, K = 3 units

About This Question

This is Post Utme Rhema University 2022 Economics Question 3. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.

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