Post Utme Ims U 2023 Economics Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Ims U Economics examination.

Post Utme Ims U 2023 Economics Objective / Multiple Choice
Question 4 POST_UTME_IMS_U • 2023 • ECONOMICS • objective

A firm has a production function given by Q = 2L^2 and a \cost function given by C(L) = 10L + 5. Determine the firm's marginal \cost and marginal product of labor.

Answer Options

A. \( MC = 20L, MP = 4L \)
Correct Answer B. \( MC = 10L, MP = 2L \)
C. \( MC = 5L, MP = L \)
D. \( MC = 2L, MP = 0.5L \)
Correct Answer
B
Correct Option:
\( MC = 10L, MP = 2L \)

About This Question

This is Post Utme Ims U 2023 Economics Question 4. It is one of the objective questions from the 2023 Post Utme Ims U Economics examination.

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