Post Utme Caleb University 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Caleb University Economics examination.

Post Utme Caleb University 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_CALEB_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current input levels are L = 16 and K = 9, find the marginal product of labor and the marginal product of capital.

Answer Options

Correct Answer A. MP_L = 0.1875, MP_K = 0.25
B. MP_L = 0.25, MP_K = 0.1875
C. MP_L = 0.1875, MP_K = 0.125
D. MP_L = 0.125, MP_K = 0.1875
Correct Answer
A
Correct Option:
MP_L = 0.1875, MP_K = 0.25

About This Question

This is Post Utme Caleb University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Caleb University Economics examination.

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