Post Utme Joseph Ayo Babalola University 2019 Economics Question 34

Practice objective / multiple choice question 34 from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.

Post Utme Joseph Ayo Babalola University 2019 Economics Objective / Multiple Choice
Question 34 POST_UTME_JOSEPH_AYO_BABALOLA_UNIVERSITY • 2019 • ECONOMICS • objective

A firm is producing a good with a production function Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is ₦100 per unit and the price of capital is ₦200 per unit, and the firm is currently producing 100 units of output, what is the marginal product of labor?

Answer Options

Correct Answer A. 0.5L^\( -0.5 \)K^0.5
B. L^\( -0.5 \)K^0.5
C. 2L^0.5K^\( -0.5 \)
D. 2L^\( -0.5 \)K^0.5
Correct Answer
A
Correct Option:
0.5L^\( -0.5 \)K^0.5

About This Question

This is Post Utme Joseph Ayo Babalola University 2019 Economics Question 34. It is one of the objective questions from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.

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