Post Utme Unilorin 2019 Economics Question 20

Practice objective / multiple choice question 20 from the 2019 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2019 Economics Objective / Multiple Choice

Question 20 POST_UTME_UNILORIN • 2019 • ECONOMICS • objective

A firm is producing a good u\sing the production function Q = 2L + 3K. If the prices of labor and capital are ₦10 and ₦20 respectively, and the firm's budget is ₦1000, find the firm's optimal input mix of labor and capital.

Answer Options

Correct Answer A. L = 20, K = 30

B. L = 30, K = 20

C. L = 40, K = 10

D. L = 10, K = 40

Correct Answer

Correct Option:

L = 20, K = 30

About This Question

This is Post Utme Unilorin 2019 Economics Question 20. It is one of the objective questions from the 2019 Post Utme Unilorin Economics examination.

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