Post Utme Ui 2021 Economics Question 3

Practice objective / multiple choice question 3 from the 2021 Post Utme Ui Economics examination.

Post Utme Ui 2021 Economics Objective / Multiple Choice

Question 3 POST_UTME_UI • 2021 • ECONOMICS • objective

A firm produces two goods, A and B, u\sing two inputs, labor (L) and capital (K). The production functions are given by Q_A = 2L^0.5K^0.5 and Q_B = 3L^0.5K^0.5. If the firm has 100 units of labor and 200 units of capital, how much of each good should it produce to maximize profits?

Correct Answer A. Q_A = 20, Q_B = 30

B. Q_A = 30, Q_B = 20

C. Q_A = 20, Q_B = 40

D. Q_A = 40, Q_B = 20

Correct Answer

Correct Option:

Q_A = 20, Q_B = 30

This is Post Utme Ui 2021 Economics Question 3. It is one of the objective questions from the 2021 Post Utme Ui Economics examination.

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