Post Utme Uniport 2018 Economics Question 12

Practice objective / multiple choice question 12 from the 2018 Post Utme Uniport Economics examination.

Post Utme Uniport 2018 Economics Objective / Multiple Choice
Question 12 POST_UTME_UNIPORT • 2018 • ECONOMICS • objective

A firm's production function is given by Q = 100L^0.5K^0.5. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, and the firm wants to maximize its profit, what will be the optimal values of L and K?

Answer Options

A. L = 100, K = 100
B. L = 200, K = 50
C. L = 50, K = 200
Correct Answer D. L = 150, K = 150
Correct Answer
D
Correct Option:
L = 150, K = 150

About This Question

This is Post Utme Uniport 2018 Economics Question 12. It is one of the objective questions from the 2018 Post Utme Uniport Economics examination.

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