Post Utme Ksu 2017 Economics Question 4

Practice objective / multiple choice question 4 from the 2017 Post Utme Ksu Economics examination.

Post Utme Ksu 2017 Economics Objective / Multiple Choice

Question 4 POST_UTME_KSU • 2017 • ECONOMICS • objective

A farmer produces wheat u\sing a production function Q = 2L^0.5K^0.5. If the farmer currently uses 100 units of labor and 50 units of capital, and the prices of labor and capital are 10 and 20 respectively, calculate the farmer's current output and its marginal product of labor (MPL) and marginal product of capital (MPK).

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

Correct Option:

Q = 100, MPL = 0.5, MPK = 0.25

This is Post Utme Ksu 2017 Economics Question 4. It is one of the objective questions from the 2017 Post Utme Ksu Economics examination.

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