Post Utme Ims U 2022 Economics Question 26

Practice objective / multiple choice question 26 from the 2022 Post Utme Ims U Economics examination.

Post Utme Ims U 2022 Economics Objective / Multiple Choice
Question 26 POST_UTME_IMS_U • 2022 • ECONOMICS • objective

Consider a production function with cons\tant returns to scale. If the output increases by 20% due to a 20% increase in labor, what is the value of the labor's marginal product?

Answer Options

A. 10%
Correct Answer B. 20%
C. 30%
D. 40%
Correct Answer
B
Correct Option:
20%

About This Question

This is Post Utme Ims U 2022 Economics Question 26. It is one of the objective questions from the 2022 Post Utme Ims U Economics examination.

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