Post Utme Lautech 2019 Economics Question 12
Practice objective / multiple choice question 12 from the 2019 Post Utme Lautech Economics examination.
A firm is considering the production of two goods, X and Y. The production function for good X is given by Q_X = 2L^0.5K^0.5, where L is labor and K is capital. The production function for good Y is given by Q_Y = 3L^0.2K^0.8. If the firm has 100 units of labor and 200 units of capital, what is the ratio of the marginal product of labor with respect to good X to the marginal product of labor with respect to good Y?
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About This Question
This is Post Utme Lautech 2019 Economics Question 12. It is one of the objective questions from the 2019 Post Utme Lautech Economics examination.
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