Post Utme Uniport 2019 Economics Question 26
Practice objective / multiple choice question 26 from the 2019 Post Utme Uniport Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is output, L is labor and K is capital. If the firm's labor and capital are fixed at 16 and 9 units respectively, calculate the opportunity \cost of labor.
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About This Question
This is Post Utme Uniport 2019 Economics Question 26. It is one of the objective questions from the 2019 Post Utme Uniport Economics examination.
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