Post Utme Uniben 2023 Commerce Question 38
Practice objective / multiple choice question 38 from the 2023 Post Utme Uniben Commerce examination.
A firm has a production function Q = 2L^0.5K^0.5, where Q is the quantity of output, L is the amount of labor, and K is the amount of capital. If the firm wants to produce 100 units of output, and the cost of labor is ₦50 per unit and the cost of capital is ₦100 per unit, what is the optimal combination of labor and capital?
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About This Question
This is Post Utme Uniben 2023 Commerce Question 38. It is one of the objective questions from the 2023 Post Utme Uniben Commerce examination.
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