Post Utme Uniport 2020 Economics Question 16
Practice objective / multiple choice question 16 from the 2020 Post Utme Uniport Economics examination.
A firm's production function is given by Q = 2L^0.5H^0.5, where Q is output, L is labor and H is capital. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the \cost-minimizing combination of labor and capital if the firm produces 100 units of output.
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About This Question
This is Post Utme Uniport 2020 Economics Question 16. It is one of the objective questions from the 2020 Post Utme Uniport Economics examination.
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