Post Utme Wellspring University 2020 Economics Question 12
Practice objective / multiple choice question 12 from the 2020 Post Utme Wellspring University Economics examination.
A firm produces two goods, A and B, u\sing two inputs, Labour and Capital. The production function for good A is given by \( Q_A = 2L^0.5K^{0.5} \) and for good B is given by \( Q_B = 3L^{0.5}K^{0.5} \). If the firm has 100 units of Labour and 50 units of Capital, find the optimal mix of good A and good B u\sing the method of Lagrange multipliers.
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This is Post Utme Wellspring University 2020 Economics Question 12. It is one of the objective questions from the 2020 Post Utme Wellspring University Economics examination.
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