Post Utme Unn 2023 Commerce Question 25

Practice objective / multiple choice question 25 from the 2023 Post Utme Unn Commerce examination.

Post Utme Unn 2023 Commerce Objective / Multiple Choice
Question 25 POST_UTME_UNN • 2023 • COMMERCE • objective

A firm's cost function is given by C = 2L + 3K. If the firm wants to minimize its costs, what is the optimal level of labor and capital?

Answer Options

A. L = 10, K = 20
B. L = 20, K = 10
Correct Answer C. L = 15, K = 15
D. L = 5, K = 5
Correct Answer
C
Correct Option:
L = 15, K = 15

About This Question

This is Post Utme Unn 2023 Commerce Question 25. It is one of the objective questions from the 2023 Post Utme Unn Commerce examination.

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