Post Utme Wellspring University 2024 Economics Question 11
Practice objective / multiple choice question 11 from the 2024 Post Utme Wellspring University Economics examination.
A firm is faced with the following production function: Q = 2L^0.5 * K^0.5. If the price of labor (w) is ₦100 and the price of capital (r) is ₦50, and the firm's budget constraint is wL + rK = ₦5000, what is the optimal level of labor (L) and capital (K) that the firm should employ?
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About This Question
This is Post Utme Wellspring University 2024 Economics Question 11. It is one of the objective questions from the 2024 Post Utme Wellspring University Economics examination.
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