Post Utme Futa 2022 Economics Question 6
Practice objective / multiple choice question 6 from the 2022 Post Utme Futa Economics examination.
Consider a closed economy with a \single good, labor, and capital as inputs. If the production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is output, L is labor, and K is capital, and the price of the good is P = 10, what is the value of the marginal product of labor (MPL) when L = 4 and K = 9?
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About This Question
This is Post Utme Futa 2022 Economics Question 6. It is one of the objective questions from the 2022 Post Utme Futa Economics examination.
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