Post Utme Unilag 2019 Economics Question 3

Practice objective / multiple choice question 3 from the 2019 Post Utme Unilag Economics examination.

Post Utme Unilag 2019 Economics Objective / Multiple Choice
Question 3 POST_UTME_UNILAG • 2019 • ECONOMICS • objective

A firm's production function is given by Q = 2L + 3K. The prices of labor and capital are ₦10 and ₦20 respectively. What is the firm's \cost function?

Answer Options

Correct Answer A. C = 10L + 20K
B. C = 20L + 10K
C. C = 30L + 20K
D. C = 20L + 30K
Correct Answer
A
Correct Option:
C = 10L + 20K

About This Question

This is Post Utme Unilag 2019 Economics Question 3. It is one of the objective questions from the 2019 Post Utme Unilag Economics examination.

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