Post Utme Madonna University 2020 Economics Question 2

Practice objective / multiple choice question 2 from the 2020 Post Utme Madonna University Economics examination.

Post Utme Madonna University 2020 Economics Objective / Multiple Choice
Question 2 POST_UTME_MADONNA_UNIVERSITY • 2020 • ECONOMICS • objective

A firm is considering two different production techno\logies: one that uses a lot of labor and another that uses a lot of capital. Which techno\logy would you recomm\end if the firm's objective is to minimize its labor \costs?

Answer Options

Correct Answer A. The labor-intensive techno\logy.
B. The capital-intensive techno\logy.
C. It dep\ends on the firm's other \costs.
D. Both techno\logies are equally good.
Correct Answer
A
Correct Option:
The labor-intensive techno\logy.

About This Question

This is Post Utme Madonna University 2020 Economics Question 2. It is one of the objective questions from the 2020 Post Utme Madonna University Economics examination.

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