Waec Model Questions Vol1 2020 Economics Question 37
Practice objective / multiple choice question 37 from the 2020 Waec Model Questions Vol1 Economics examination.
A manufacturing firm uses labour (L workers) and capital (K machines) with the production function Q = 10 L^{0.5} K^{0.5}. The firm has 4 machines (K = 4). Each worker costs ₦200 per month and each machine costs ₦5,000 per month (including depreciation). The product sells for ₦300 per unit. The government levies a profit tax of 20 % on profit before tax. What is the minimum whole number of workers the firm must employ to obtain a post‑tax profit of at least ₦10,000 per month?
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About This Question
This is Waec Model Questions Vol1 2020 Economics Question 37. It is one of the objective questions from the 2020 Waec Model Questions Vol1 Economics examination.
Difficulty level: Hard .
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