Post Utme Lautech 2019 Economics Question 9
Practice objective / multiple choice question 9 from the 2019 Post Utme Lautech Economics examination.
A firm is producing a good with the following production function: Q = 2L + 3K, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is $10 per hour and the price of capital is $20 per hour, and the firm is currently producing 100 units of the good, what is the total product of labor?
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About This Question
This is Post Utme Lautech 2019 Economics Question 9. It is one of the objective questions from the 2019 Post Utme Lautech Economics examination.
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