Post Utme Lautech 2023 Economics Question 9
Practice objective / multiple choice question 9 from the 2023 Post Utme Lautech Economics examination.
A firm's production function is given by Q = 3L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm's marginal product of labor (MPL) is given by MPL = 1.5L^\( -0.5 \)K^0.5, what is the firm's optimal level of labor?
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About This Question
This is Post Utme Lautech 2023 Economics Question 9. It is one of the objective questions from the 2023 Post Utme Lautech Economics examination.
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