Post Utme Uniport 2021 Economics Question 15
Practice objective / multiple choice question 15 from the 2021 Post Utme Uniport Economics examination.
A firm's \cost function is given by the equation \( C = 100 + 2L + 3K \), where L is the labor input and K is the capital input. If the firm's initial labor input is \( L_0 = 10 \) and capital input is \( K_0 = 20 \), and the firm wants to minimize its \costs, find the firm's optimal labor and capital inputs.
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About This Question
This is Post Utme Uniport 2021 Economics Question 15. It is one of the objective questions from the 2021 Post Utme Uniport Economics examination.
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