Post Utme Uniosun 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Uniosun Economics examination.

Post Utme Uniosun 2022 Economics Objective / Multiple Choice

Question 24 POST_UTME_UNIOSUN • 2022 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^2 + 3K^2 \). If the firm's input prices are ₦10 per unit of labor and ₦20 per unit of capital, what is the \cost-minimizing input bundle?

Answer Options

A. L = 10, K = 5

Correct Answer B. L = 5, K = 10

C. L = 15, K = 15

D. L = 20, K = 20

Correct Answer

Correct Option:

L = 5, K = 10

About This Question

This is Post Utme Uniosun 2022 Economics Question 24. It is one of the objective questions from the 2022 Post Utme Uniosun Economics examination.

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