Post Utme Ui 2022 Commerce Question 8
Practice objective / multiple choice question 8 from the 2022 Post Utme Ui Commerce examination.
A firm has a cost function C = 100 + 2L + 3K, where C is the total cost, 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 minimize its cost, what is the optimal level of labor?
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About This Question
This is Post Utme Ui 2022 Commerce Question 8. It is one of the objective questions from the 2022 Post Utme Ui Commerce examination.
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