Post Utme Veritas University 2022 Commerce Question 15
Practice objective / multiple choice question 15 from the 2022 Post Utme Veritas University Commerce examination.
A firm's production function is given by Q = 2L^0.5K^0.5. If the firm wants to produce 400 units of output, and the wage rate is ₦50 per hour, and the rental rate is ₦20 per unit of capital, what is the optimal combination of labor and capital?
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About This Question
This is Post Utme Veritas University 2022 Commerce Question 15. It is one of the objective questions from the 2022 Post Utme Veritas University Commerce examination.
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