Post Utme Achievers University 2022 Economics Question 2

Practice objective / multiple choice question 2 from the 2022 Post Utme Achievers University Economics examination.

Post Utme Achievers University 2022 Economics Objective / Multiple Choice
Question 2 POST_UTME_ACHIEVERS_UNIVERSITY • 2022 • ECONOMICS • objective

A firm's production function is given by Q = 2L^2 + 3K, where Q is the quantity of output, L is the quantity of labor, and K is the quantity of capital. If the firm increases the quantity of labor from 4 units to 6 units, while holding the quantity of capital cons\tant, what is the change in the marginal product of labor?

Answer Options

A. The marginal product of labor increases by 2 units.
Correct Answer B. The marginal product of labor decreases by 2 units.
C. The marginal product of labor remains cons\tant.
D. The marginal product of labor increases by 4 units.
Correct Answer
B
Correct Option:
The marginal product of labor decreases by 2 units.

About This Question

This is Post Utme Achievers University 2022 Economics Question 2. It is one of the objective questions from the 2022 Post Utme Achievers University Economics examination.

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