Post Utme Wellspring University 2023 Economics Question 5

Practice objective / multiple choice question 5 from the 2023 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2023 Economics Objective / Multiple Choice
Question 5 POST_UTME_WELLSPRING_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is producing a good u\sing a production function given by Q = 2L^0.5K^0.5. The firm's \cost function is given by C = 100L + 200K. What is the firm's optimal input mix?

Answer Options

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

About This Question

This is Post Utme Wellspring University 2023 Economics Question 5. It is one of the objective questions from the 2023 Post Utme Wellspring University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support