Post Utme Ui 2021 Economics Question 5

Practice objective / multiple choice question 5 from the 2021 Post Utme Ui Economics examination.

Post Utme Ui 2021 Economics Objective / Multiple Choice
Question 5 POST_UTME_UI • 2021 • ECONOMICS • objective

A firm's production function is given by Q = 100 - 2L - 3K. If the firm has a labor \cost of ₦100 per unit and a capital \cost of ₦200 per unit, and the price of the good is ₦500, what is the profit-maximizing level of labor and capital?

Answer Options

A. L = 20, K = 10
B. L = 10, K = 20
Correct Answer C. L = 15, K = 15
D. L = 25, K = 5
Correct Answer
C
Correct Option:
L = 15, K = 15

About This Question

This is Post Utme Ui 2021 Economics Question 5. It is one of the objective questions from the 2021 Post Utme Ui Economics examination.

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