Post Utme Veritas University 2022 Economics Question 12
Practice objective / multiple choice question 12 from the 2022 Post Utme Veritas University Economics examination.
A farmer in Nigeria produces wheat u\sing a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of wheat is ₦100 per unit, and the price of labor is ₦50 per unit, and the price of capital is ₦200 per unit, find the optimal level of labor and capital to produce.
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About This Question
This is Post Utme Veritas University 2022 Economics Question 12. It is one of the objective questions from the 2022 Post Utme Veritas University Economics examination.
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