Post Utme Summit University 2020 Economics Question 32

Practice objective / multiple choice question 32 from the 2020 Post Utme Summit University Economics examination.

Post Utme Summit University 2020 Economics Objective / Multiple Choice

Question 32 POST_UTME_SUMMIT_UNIVERSITY • 2020 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's \cost function is C = 10L + 20K, what is the optimal level of L and K to minimize \costs?

Answer Options

Correct Answer A. L = 4, K = 4

B. L = 8, K = 2

C. L = 16, K = 1

D. L = 32, K = 0.5

Correct Answer

Correct Option:

L = 4, K = 4

About This Question

This is Post Utme Summit University 2020 Economics Question 32. It is one of the objective questions from the 2020 Post Utme Summit University Economics examination.

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