Post Utme Ui 2022 Commerce Question 10
Practice objective / multiple choice question 10 from the 2022 Post Utme Ui Commerce examination.
A firm has a profit function π = 100Q - 2Q^2 - 100 - 2L - 3K, where π is the total profit, Q is the quantity of output, L is labor, and K is capital. If the price of labor is 10 per hour and the price of capital is 20 per unit, and if the firm wants to maximize its profit, what is the optimal level of labor?
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This is Post Utme Ui 2022 Commerce Question 10. It is one of the objective questions from the 2022 Post Utme Ui Commerce examination.
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