Post Utme Covenant University 2017 Economics Question 29

Practice objective / multiple choice question 29 from the 2017 Post Utme Covenant University Economics examination.

Post Utme Covenant University 2017 Economics Objective / Multiple Choice
Question 29 POST_UTME_COVENANT_UNIVERSITY • 2017 • ECONOMICS • objective

A country has a production function given by \( Y = 2L^2 + 10L \) and a labor supply function given by \( L = 5 + 2W \). Find the equilibrium wage and employment level.

Answer Options

A. \( W = 10, L = 15 \)
B. \( W = 15, L = 20 \)
Correct Answer C. \( W = 20, L = 25 \)
D. \( W = 25, L = 30 \)
Correct Answer
C
Correct Option:
\( W = 20, L = 25 \)

About This Question

This is Post Utme Covenant University 2017 Economics Question 29. It is one of the objective questions from the 2017 Post Utme Covenant University Economics examination.

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