Post Utme Aaua 2022 Economics Question 24

Practice objective / multiple choice question 24 from the 2022 Post Utme Aaua Economics examination.

Post Utme Aaua 2022 Economics Objective / Multiple Choice
Question 24 POST_UTME_AAUA • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is output, L is labor, and K is capital. If the firm's labor and capital are fixed at 16 and 25 respectively, calculate the average product of labor (APL) and average product of capital (APK).

Answer Options

A. APL = 1/L, APK = 1/K
Correct Answer B. APL = 1/\( 2L^\( 1/2 \ \)K^\( 1/2 \)), APK = 1/\( 2L^\( 1/2 \ \)K^\( 1/2 \))
C. APL = 1/L, APK = 1/K^\( 1/2 \)
D. APL = 1/\( 2L^\( 1/2 \ \)K^\( 1/2 \)), APK = 1/K
Correct Answer
B
Correct Option:
APL = 1/\( 2L^\( 1/2 \ \)K^\( 1/2 \)), APK = 1/\( 2L^\( 1/2 \ \)K^\( 1/2 \))

About This Question

This is Post Utme Aaua 2022 Economics Question 24. It is one of the objective questions from the 2022 Post Utme Aaua Economics examination.

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