Post Utme Uniben 2022 Commerce Question 11
Practice objective / multiple choice question 11 from the 2022 Post Utme Uniben Commerce examination.
A company's production function is given by the Cobb-Douglas production function: Q = 10L^0.4K^0.6. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the company's budget constraint is given by 100L + 200K = ₦10000, find the optimal level of labor and capital that maximizes the company's output.
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This is Post Utme Uniben 2022 Commerce Question 11. It is one of the objective questions from the 2022 Post Utme Uniben Commerce examination.
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