Post Utme Coal City University 2017 Economics Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Coal City University Economics examination.

Post Utme Coal City University 2017 Economics Objective / Multiple Choice
Question 27 POST_UTME_COAL_CITY_UNIVERSITY • 2017 • ECONOMICS • objective

A firm in Nigeria is considering the production of two goods, X and Y. The production function for good X is given by Q_X = 2L + 3K, where L is labor and K is capital. The production function for good Y is given by Q_Y = 4L + 2K. If the firm has 10 units of labor and 5 units of capital, what is the opportunity \cost of producing one more unit of good X?

Answer Options

Correct Answer A. The opportunity \cost of producing one more unit of good X is 0.5 units of good Y.
B. The opportunity \cost of producing one more unit of good X is 1 unit of good Y.
C. The opportunity \cost of producing one more unit of good X is 2 units of good Y.
D. The opportunity \cost of producing one more unit of good X is 3 units of good Y.
Correct Answer
A
Correct Option:
The opportunity \cost of producing one more unit of good X is 0.5 units of good Y.

About This Question

This is Post Utme Coal City University 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Coal City University Economics examination.

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