Post Utme Skyline University 2021 Commerce Question 34
Practice objective / multiple choice question 34 from the 2021 Post Utme Skyline University Commerce examination.
A company has a production function given by Q = 2L^0.5K^0.5, where Q is the output, L is the labor input, and K is the capital input. If the company wants to produce 100 units of output, and the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, what is the minimum cost of production?
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About This Question
This is Post Utme Skyline University 2021 Commerce Question 34. It is one of the objective questions from the 2021 Post Utme Skyline University Commerce examination.
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