Post Utme Rhema University 2022 Economics Question 35
Practice objective / multiple choice question 35 from the 2022 Post Utme Rhema University Economics examination.
A firm's \cost function is given by the equation C = 2L + 3K, where C is the \cost, L is the labor, and K is the capital. If the firm wants to minimize its \cost, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, what is the optimal combination of labor and capital?
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This is Post Utme Rhema University 2022 Economics Question 35. It is one of the objective questions from the 2022 Post Utme Rhema University Economics examination.
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