Post Utme Unilorin 2017 Economics Question 35

Practice objective / multiple choice question 35 from the 2017 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2017 Economics Objective / Multiple Choice
Question 35 POST_UTME_UNILORIN • 2017 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of the firm's product is P = 10, and the wage rate is W = 5, calculate the optimal level of labor (L) and capital (K) u\sing the first-order conditions for profit maximization.

Answer Options

Correct Answer A. \( L = 4, K = 4 \)
B. \( L = 2, K = 2 \)
C. \( L = 8, K = 8 \)
D. \( L = 1, K = 1 \)
Correct Answer
A
Correct Option:
\( L = 4, K = 4 \)

About This Question

This is Post Utme Unilorin 2017 Economics Question 35. It is one of the objective questions from the 2017 Post Utme Unilorin Economics examination.

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