Post Utme Unn 2020 Economics Question 15
Practice objective / multiple choice question 15 from the 2020 Post Utme Unn Economics examination.
A firm's production function is given by the equation Q = 2L^0.5, where Q is the quantity produced and L is the labor input. If the firm's wage rate is $10 per hour, what is the optimal level of labor input (L) that the firm should hire to maximize profits?
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About This Question
This is Post Utme Unn 2020 Economics Question 15. It is one of the objective questions from the 2020 Post Utme Unn Economics examination.
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