Post Utme Veritas University 2018 Economics Question 2

Practice objective / multiple choice question 2 from the 2018 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2018 Economics Objective / Multiple Choice

Question 2 POST_UTME_VERITAS_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the wage rate is ₦50 per hour and the rental rate is ₦20 per hour, find the optimal values of L and K.

Answer Options

Correct Answer A. L = 100, K = 100

B. L = 50, K = 50

C. L = 200, K = 200

D. L = 150, K = 150

Correct Answer

Correct Option:

L = 100, K = 100

About This Question

This is Post Utme Veritas University 2018 Economics Question 2. It is one of the objective questions from the 2018 Post Utme Veritas University Economics examination.

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