Post Utme Wellspring University 2019 Economics Question 9

Practice objective / multiple choice question 9 from the 2019 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2019 Economics Objective / Multiple Choice
Question 9 POST_UTME_WELLSPRING_UNIVERSITY • 2019 • ECONOMICS • objective

A firm's \cost function is given by \( C = 2L + 3K \). If the firm's output is 16 units when the labor input is 4 units and the capital input is 4 units, what is the firm's total \cost?

Answer Options

A. ₦40
B. ₦60
Correct Answer C. ₦80
D. ₦100
Correct Answer
C
Correct Option:
₦80

About This Question

This is Post Utme Wellspring University 2019 Economics Question 9. It is one of the objective questions from the 2019 Post Utme Wellspring University Economics examination.

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