Post Utme Unilorin 2024 Economics Question 12

Practice objective / multiple choice question 12 from the 2024 Post Utme Unilorin Economics examination.

Post Utme Unilorin 2024 Economics Objective / Multiple Choice
Question 12 POST_UTME_UNILORIN • 2024 • ECONOMICS • objective

A firm is faced with a production function F(L, K) = 10L^0.4K^0.6. If the price of labor is ₦50 per hour and the price of capital is ₦100 per hour, what is the optimal input combination?

Answer Options

Correct Answer A. L = 10, K = 5
B. L = 5, K = 10
C. L = 15, K = 3
D. L = 20, K = 2
Correct Answer
A
Correct Option:
L = 10, K = 5

About This Question

This is Post Utme Unilorin 2024 Economics Question 12. It is one of the objective questions from the 2024 Post Utme Unilorin Economics examination.

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