Post Utme Uniben 2020 Commerce Question 16
Practice objective / multiple choice question 16 from the 2020 Post Utme Uniben Commerce examination.
A firm specializes in the production of a single product, which is sold in both domestic and foreign markets. The firm's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. The firm's revenue function is given by R = 200Q. If the firm's labor and capital inputs are 100 and 400, respectively, what is the firm's profit-maximizing output?
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About This Question
This is Post Utme Uniben 2020 Commerce Question 16. It is one of the objective questions from the 2020 Post Utme Uniben Commerce examination.
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