Post Utme Veritas University 2018 Commerce Question 6
Practice objective / multiple choice question 6 from the 2018 Post Utme Veritas University Commerce examination.
A firm specializes in producing a single product, which is sold in a competitive market. The firm's production function is given by Q = 100L^0.5, where Q is the quantity produced and L is the labor input. If the wage rate is ₦100 per hour, what is the firm's optimal labor input?
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About This Question
This is Post Utme Veritas University 2018 Commerce Question 6. It is one of the objective questions from the 2018 Post Utme Veritas University Commerce examination.
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