Post Utme Uniben 2020 Economics Question 3

Practice objective / multiple choice question 3 from the 2020 Post Utme Uniben Economics examination.

Post Utme Uniben 2020 Economics Objective / Multiple Choice

Question 3 POST_UTME_UNIBEN • 2020 • ECONOMICS • objective

A firm has a production function F(L, K) = 2L^0.5K^0.5. If the firm's \cost of labor is ₦10 per unit and the \cost of capital is ₦20 per unit, what is the firm's optimal input mix?

Answer Options

Correct Answer A. L = 100, K = 50

B. L = 80, K = 60

C. L = 60, K = 70

D. L = 40, K = 80

Correct Answer

Correct Option:

L = 100, K = 50

About This Question

This is Post Utme Uniben 2020 Economics Question 3. It is one of the objective questions from the 2020 Post Utme Uniben Economics examination.

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