Post Utme Skyline University 2023 Economics Question 16

Practice objective / multiple choice question 16 from the 2023 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2023 Economics Objective / Multiple Choice
Question 16 POST_UTME_SKYLINE_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function exhibits cons\tant returns to scale. If the firm's current output is 100 units and the price of the input is ₦10 per unit, what is the minimum \cost of producing 200 units of output?

Answer Options

A. ₦2000
Correct Answer B. ₦4000
C. ₦6000
D. ₦8000
Correct Answer
B
Correct Option:
₦4000

About This Question

This is Post Utme Skyline University 2023 Economics Question 16. It is one of the objective questions from the 2023 Post Utme Skyline University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support