Post Utme Ui 2021 Commerce Question 12

Practice objective / multiple choice question 12 from the 2021 Post Utme Ui Commerce examination.

Post Utme Ui 2021 Commerce Objective / Multiple Choice

Question 12 POST_UTME_UI • 2021 • COMMERCE • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 16 units of output, and the wage rate is ₦100 per hour, and the rental rate is ₦200 per unit of capital, then the cost-minimizing input combination is

A. L = 4, K = 4

Correct Answer B. L = 16, K = 1

C. L = 1, K = 16

D. L = 4, K = 16

Correct Answer

Correct Option:

L = 16, K = 1

This is Post Utme Ui 2021 Commerce Question 12. It is one of the objective questions from the 2021 Post Utme Ui Commerce examination.

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