Post Utme Unilag 2024 Commerce Question 6
Practice objective / multiple choice question 6 from the 2024 Post Utme Unilag Commerce examination.
A firm specializes in producing a single product, which is a combination of two inputs, labor and capital. If the production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital, and the prices of labor and capital are 10 and 20 respectively, what is the total cost of producing 4 units of the product?
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About This Question
This is Post Utme Unilag 2024 Commerce Question 6. It is one of the objective questions from the 2024 Post Utme Unilag Commerce examination.
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