Post Utme Unilag 2024 Commerce Question 8
Practice objective / multiple choice question 8 from the 2024 Post Utme Unilag Commerce examination.
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the quantity produced, L is labor, and K is capital. If the prices of labor and capital are 15 and 30 respectively, and the firm produces 9 units of the product, what is the total cost of production?
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About This Question
This is Post Utme Unilag 2024 Commerce Question 8. It is one of the objective questions from the 2024 Post Utme Unilag Commerce examination.
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