Post Utme Madonna University 2018 Economics Question 19

Practice objective / multiple choice question 19 from the 2018 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2018 Economics Objective / Multiple Choice
Question 19 POST_UTME_MADONNA_UNIVERSITY • 2018 • ECONOMICS • objective

A firm is producing at a point on its production function where the marginal product of labor is zero. What is the implication of this for the firm's production?

Answer Options

A. The firm is producing at its maximum level of output.
B. The firm is producing at its minimum level of output.
Correct Answer C. The firm is producing at a point where the law of diminishing returns is operating.
D. The firm is producing at a point where the law of increa\sing returns is operating.
Correct Answer
C
Correct Option:
The firm is producing at a point where the law of diminishing returns is operating.

About This Question

This is Post Utme Madonna University 2018 Economics Question 19. It is one of the objective questions from the 2018 Post Utme Madonna University Economics examination.

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