Post Utme Unilag 2021 Commerce Question 2

Practice objective / multiple choice question 2 from the 2021 Post Utme Unilag Commerce examination.

Post Utme Unilag 2021 Commerce Objective / Multiple Choice
Question 2 POST_UTME_UNILAG • 2021 • COMMERCE • objective

A firm's production function is given by Q = 2L^(1/2)K^(1/2). If the price of labor is 10 per unit and the price of capital is 20 per unit, what is the optimal level of labor and capital?

Answer Options

Correct Answer A. L = 100, K = 50
B. L = 50, K = 100
C. L = 200, K = 100
D. L = 100, K = 200
Correct Answer
A
Correct Option:
L = 100, K = 50

About This Question

This is Post Utme Unilag 2021 Commerce Question 2. It is one of the objective questions from the 2021 Post Utme Unilag Commerce examination.

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