Post Utme Skyline University 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2021 Economics Objective / Multiple Choice

Question 3 POST_UTME_SKYLINE_UNIVERSITY • 2021 • ECONOMICS • objective

A firm produces a product u\sing two inputs, labor and capital. The production function is given by \( Q = 2L^0.5K^0.5 \). If the firm's budget constraint is \( 2L + 3K = 100 \), find the optimal levels of labor and capital.

Answer Options

Correct Answer A. L = 20, K = 30

B. L = 30, K = 20

C. L = 40, K = 15

D. L = 15, K = 40

Correct Answer

Correct Option:

L = 20, K = 30

About This Question

This is Post Utme Skyline University 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Skyline University Economics examination.

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