Post Utme Veritas University 2021 Economics Question 39

Practice objective / multiple choice question 39 from the 2021 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2021 Economics Objective / Multiple Choice
Question 39 POST_UTME_VERITAS_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \). If the price of labor is ₦100 and the price of capital is ₦200, find the profit-maximizing level of labor and capital.

Answer Options

Correct Answer A. L = 100 units, K = 50 units
B. L = 50 units, K = 100 units
C. L = 0 units, K = 0 units
D. L = 200 units, K = 100 units
Correct Answer
A
Correct Option:
L = 100 units, K = 50 units

About This Question

This is Post Utme Veritas University 2021 Economics Question 39. It is one of the objective questions from the 2021 Post Utme Veritas University Economics examination.

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