Post Utme Summit University 2022 Economics Question 20
Practice objective / multiple choice question 20 from the 2022 Post Utme Summit University Economics examination.
A firm in Nigeria produces a product u\sing the following production function: Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the price of the product 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 20. It is one of the objective questions from the 2022 Post Utme Summit University Economics examination.
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