Post Utme Ui 2023 Economics Question 30
Practice objective / multiple choice question 30 from the 2023 Post Utme Ui Economics examination.
Consider a firm operating in a perfectly competitive market with a given production function Q = 2L^0.5K^0.5. If the price of the good is P = 10, and the wage rate is W = 5, what is the optimal level of labor (L) that the firm should employ, given that the firm's objective is to maximize profits?
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About This Question
This is Post Utme Ui 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Ui Economics examination.
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