Post Utme Covenant University 2020 Economics Question 7
Practice objective / multiple choice question 7 from the 2020 Post Utme Covenant University Economics examination.
A firm is producing a good with a production function Q = 2L^0.5K^0.5, where L is labor and K is capital. If the price of labor is $10 per hour and the price of capital is $20 per unit, and the firm is currently producing 100 units of output, what is the marginal product of labor (MPL) in terms of output?
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About This Question
This is Post Utme Covenant University 2020 Economics Question 7. It is one of the objective questions from the 2020 Post Utme Covenant University Economics examination.
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