Post Utme Ui 2021 Commerce Question 23
Practice objective / multiple choice question 23 from the 2021 Post Utme Ui Commerce examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, and if the firm wants to produce 4 units of output, what is the minimum cost of production?
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About This Question
This is Post Utme Ui 2021 Commerce Question 23. It is one of the objective questions from the 2021 Post Utme Ui Commerce examination.
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