Post Utme Summit University 2022 Economics Question 18
Practice objective / multiple choice question 18 from the 2022 Post Utme Summit University Economics examination.
A farmer in Nigeria produces wheat u\sing the following production function: Q = 100L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the price of wheat is ₦100 per unit and the price of labor is ₦50 per unit, what is the optimal level of labor and capital?
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About This Question
This is Post Utme Summit University 2022 Economics Question 18. It is one of the objective questions from the 2022 Post Utme Summit University Economics examination.
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