Post Utme Osustech 2023 Economics Question 36

Practice objective / multiple choice question 36 from the 2023 Post Utme Osustech Economics examination.

Post Utme Osustech 2023 Economics Objective / Multiple Choice

Question 36 POST_UTME_OSUSTECH • 2023 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. The firm's current inputs are L = 16 and K = 9. What is the firm's average product (AP) and marginal product (MP)?

Answer Options

Correct Answer A. AP = 1, MP = 0.5

B. AP = 0.5, MP = 1

C. AP = 1.5, MP = 0.75

D. AP = 0.75, MP = 1.5

Correct Answer

Correct Option:

AP = 1, MP = 0.5

About This Question

This is Post Utme Osustech 2023 Economics Question 36. It is one of the objective questions from the 2023 Post Utme Osustech Economics examination.

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