Post Utme Unilorin 2025 Commerce Question 20
Practice objective / multiple choice question 20 from the 2025 Post Utme Unilorin Commerce examination.
A firm's production function is given by Q = 3L^0.7K^0.3. If the firm wants to produce 27 units of output, and the price of labor is ₦150 per unit, while the price of capital is ₦300 per unit, what is the minimum cost of production?
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About This Question
This is Post Utme Unilorin 2025 Commerce Question 20. It is one of the objective questions from the 2025 Post Utme Unilorin Commerce examination.
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