Post Utme Ui 2022 Commerce Question 34

Practice objective / multiple choice question 34 from the 2022 Post Utme Ui Commerce examination.

Post Utme Ui 2022 Commerce Objective / Multiple Choice
Question 34 POST_UTME_UI • 2022 • COMMERCE • objective

A firm's cost function is given by C = 2L + 3K. If the firm wants to minimize its costs while producing 100 units of output, what is the optimal combination of labor and capital?

Answer Options

Correct Answer A. L = 20, K = 30
B. L = 30, K = 20
C. L = 40, K = 10
D. L = 10, K = 40
Correct Answer
A
Correct Option:
L = 20, K = 30

About This Question

This is Post Utme Ui 2022 Commerce Question 34. It is one of the objective questions from the 2022 Post Utme Ui Commerce examination.

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