Post Utme Uniport 2020 Economics Question 37

Practice objective / multiple choice question 37 from the 2020 Post Utme Uniport Economics examination.

Post Utme Uniport 2020 Economics Objective / Multiple Choice

Question 37 POST_UTME_UNIPORT • 2020 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, find the optimal level of labor and capital.

Answer Options

Correct Answer A. L = 100, K = 200

B. L = 200, K = 100

C. L = 50, K = 50

D. L = 0, K = 0

Correct Answer

Correct Option:

L = 100, K = 200

About This Question

This is Post Utme Uniport 2020 Economics Question 37. It is one of the objective questions from the 2020 Post Utme Uniport Economics examination.

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