Post Utme Al Hikmah University 2022 Economics Question 32

Practice objective / multiple choice question 32 from the 2022 Post Utme Al Hikmah University Economics examination.

Post Utme Al Hikmah University 2022 Economics Objective / Multiple Choice

Question 32 POST_UTME_AL-HIKMAH_UNIVERSITY • 2022 • ECONOMICS • objective

A firm produces two goods, X and Y, u\sing two inputs, labor (L) and capital (K). The production functions are given by X = 2L + 3K and Y = 4L + 2K. If the firm has 10 units of labor and 5 units of capital, calculate the total revenue and the marginal revenue product of labor and capital.

Answer Options

A. TR = 50, MRP_L = 10, MRP_K = 5

B. TR = 60, MRP_L = 12, MRP_K = 6

Correct Answer C. TR = 70, MRP_L = 15, MRP_K = 8

D. TR = 80, MRP_L = 18, MRP_K = 10

Correct Answer

Correct Option:

TR = 70, MRP_L = 15, MRP_K = 8

About This Question

This is Post Utme Al Hikmah University 2022 Economics Question 32. It is one of the objective questions from the 2022 Post Utme Al Hikmah University Economics examination.

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