Post Utme Uniport 2023 Commerce Question 32
Practice objective / multiple choice question 32 from the 2023 Post Utme Uniport Commerce examination.
A company's production function is given by Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to produce 100 units of output, and the price of labor is ₦100 per unit, and the price of capital is ₦200 per unit, what is the minimum cost of production?
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About This Question
This is Post Utme Uniport 2023 Commerce Question 32. It is one of the objective questions from the 2023 Post Utme Uniport Commerce examination.
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