Post Utme Uniosun 2022 Economics Question 12

Practice objective / multiple choice question 12 from the 2022 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2022 Economics Objective / Multiple Choice

Question 12 POST_UTME_UNIOSUN • 2022 • ECONOMICS • objective

A firm is producing a good u\sing labor and capital. The production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm's budget constraint is 100L + 200K = 10000, find the optimal values of L and K.

Answer Options

A. L = 100, K = 50

Correct Answer B. L = 50, K = 100

C. L = 200, K = 50

D. L = 50, K = 200

Correct Answer

Correct Option:

L = 50, K = 100

About This Question

This is Post Utme Uniosun 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Uniosun Economics examination.

View More Post Utme Uniosun 2022 Economics Questions More Post Utme Uniosun Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows

Chat with Support