Post Utme Bowen University 2021 Commerce Question 39
Practice objective / multiple choice question 39 from the 2021 Post Utme Bowen University Commerce examination.
A firm is producing two goods, X and Y, using two inputs, labor and capital. The production function for good X is given by Q_X = 2L^0.5K^0.5, where Q_X is the quantity of good X produced, L is the amount of labor used, and K is the amount of capital used. The production function for good Y is given by Q_Y = 3L^0.25K^0.75. If the firm is currently using 4 units of labor and 9 units of capital, what is the marginal product of labor for good X?
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About This Question
This is Post Utme Bowen University 2021 Commerce Question 39. It is one of the objective questions from the 2021 Post Utme Bowen University Commerce examination.
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