Post Utme Uniport 2017 Economics Question 5

Practice objective / multiple choice question 5 from the 2017 Post Utme Uniport Economics examination.

Post Utme Uniport 2017 Economics Objective / Multiple Choice
Question 5 POST_UTME_UNIPORT • 2017 • ECONOMICS • objective

Consider a firm with a production function Q = 2L^0.5K^0.5. If the price of the good is $10 and the firm's \cost function is C = 2L + 3K, what is the optimal level of output and input usage?

Answer Options

Correct Answer A. \( Q = 100, L = 50, K = 50 \)
B. \( Q = 50, L = 25, K = 25 \)
C. \( Q = 200, L = 100, K = 100 \)
D. \( Q = 150, L = 75, K = 75 \)
Correct Answer
A
Correct Option:
\( Q = 100, L = 50, K = 50 \)

About This Question

This is Post Utme Uniport 2017 Economics Question 5. It is one of the objective questions from the 2017 Post Utme Uniport Economics examination.

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