Post Utme Lead City University 2020 Economics Question 20

Practice objective / multiple choice question 20 from the 2020 Post Utme Lead City University Economics examination.

Post Utme Lead City University 2020 Economics Objective / Multiple Choice

Question 20 POST_UTME_LEAD_CITY_UNIVERSITY • 2020 • ECONOMICS • objective

A firm has a production function given by Q = 2L + 3K, where L is labor and K is capital. If the firm's \cost function is C = 10L + 20K, calculate the marginal product of labor and the marginal product of capital.

Answer Options

Correct Answer A. MPL = 2, MPK = 3

B. MPL = 3, MPK = 2

C. MPL = 4, MPK = 1

D. MPL = 1, MPK = 4

Correct Answer

Correct Option:

MPL = 2, MPK = 3

About This Question

This is Post Utme Lead City University 2020 Economics Question 20. It is one of the objective questions from the 2020 Post Utme Lead City University Economics examination.

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