Post Utme Uniosun 2017 Economics Question 36
Practice objective / multiple choice question 36 from the 2017 Post Utme Uniosun Economics examination.
Consider a firm operating in a perfectly competitive market with a production function given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of the good is $10 and the wage rate is $5 per hour, what is the optimal level of labor (L) to maximize profits?
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About This Question
This is Post Utme Uniosun 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Uniosun Economics examination.
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