Neco Model Questions Vol1 2025 Geography Question 18
Practice objective / multiple choice question 18 from the 2025 Neco Model Questions Vol1 Geography examination.
A factory's output follows the Cobb‑Douglas function \(Q = 20\sqrt{LK}\), where \(L\) is the number of labour‑hours and \(K\) the number of capital units used in a month. Labour costs ₦150 per hour, capital costs ₦200 per unit per month and fixed overheads are ₦10 000 per month. Each widget sells for ₦500. The firm must produce at least 5 000 widgets per month. Find the integer values of \(L\) and \(K\) that minimise the total monthly cost while satisfying the output requirement, and compute the resulting monthly profit.
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This is Neco Model Questions Vol1 2025 Geography Question 18. It is one of the objective questions from the 2025 Neco Model Questions Vol1 Geography examination.
Difficulty level: Hard .
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