Post Utme Osustech 2017 Economics Question 27

Practice objective / multiple choice question 27 from the 2017 Post Utme Osustech Economics examination.

Post Utme Osustech 2017 Economics Objective / Multiple Choice
Question 27 POST_UTME_OSUSTECH • 2017 • ECONOMICS • objective

A firm's production function is given by \( Q = 2L^{1/2}K^{1/2} \). If the price of labor is \( W = 10 \) and the price of capital is \( R = 5 \), calculate the marginal product of labor.

Answer Options

A. \( MPL = 0.5L^{-1/2}K^{1/2} \)
Correct Answer B. \( MPL = L^{1/2}K^{-1/2} \)
C. \( MPL = 0.25L^{-1/2}K^{1/2} \)
D. \( MPL = 0.25L^{1/2}K^{-1/2} \)
Correct Answer
B
Correct Option:
\( MPL = L^{1/2}K^{-1/2} \)

About This Question

This is Post Utme Osustech 2017 Economics Question 27. It is one of the objective questions from the 2017 Post Utme Osustech Economics examination.

View More Post Utme Osustech 2017 Economics Questions More Post Utme Osustech Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support