Post Utme Oau 2021 Economics Question 26
Practice objective / multiple choice question 26 from the 2021 Post Utme Oau Economics examination.
A firm operating in a perfectly competitive market produces a homogeneous product. The firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm's current labor input is 16 units and capital input is 9 units, what is the opportunity \cost of increa\sing labor input by 1 unit?
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About This Question
This is Post Utme Oau 2021 Economics Question 26. It is one of the objective questions from the 2021 Post Utme Oau Economics examination.
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