Post Utme Ksu 2017 Economics Question 1

Practice objective / multiple choice question 1 from the 2017 Post Utme Ksu Economics examination.

Post Utme Ksu 2017 Economics Objective / Multiple Choice
Question 1 POST_UTME_KSU • 2017 • ECONOMICS • objective

Consider a firm operating in a perfectly competitive market with a production function Q = 2L^0.5K^0.5. If the firm's current input prices are w = 10 and r = 20, and it currently uses 100 units of labor and 50 units of capital, calculate the firm's current output and its marginal product of labor (MPL) and marginal product of capital (MPK).

Answer Options

Correct Answer A. Q = 100, MPL = 0.5, MPK = 0.25
B. Q = 50, MPL = 0.25, MPK = 0.5
C. Q = 200, MPL = 0.25, MPK = 0.5
D. Q = 50, MPL = 0.5, MPK = 0.25
Correct Answer
A
Correct Option:
Q = 100, MPL = 0.5, MPK = 0.25

About This Question

This is Post Utme Ksu 2017 Economics Question 1. It is one of the objective questions from the 2017 Post Utme Ksu Economics examination.

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