Post Utme Ui 2023 Geography Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Ui Geography examination.

Post Utme Ui 2023 Geography Objective / Multiple Choice
Question 4 POST_UTME_UI • 2023 • GEOGRAPHY • objective

A firm is producing a good with a production function of Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, what is the optimal level of labor and capital to produce 100 units of the good?

Answer Options

Correct Answer A. L = 100, K = 50
B. L = 50, K = 100
C. L = 200, K = 100
D. L = 100, K = 200
Correct Answer
A
Correct Option:
L = 100, K = 50

About This Question

This is Post Utme Ui 2023 Geography Question 4. It is one of the objective questions from the 2023 Post Utme Ui Geography examination.

View More Post Utme Ui 2023 Geography Questions More Post Utme Ui Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support