Post Utme Osustech 2024 Economics Question 21
Practice objective / multiple choice question 21 from the 2024 Post Utme Osustech Economics examination.
Consider a production function \( Q = f\( L, K \ \) ) where ( Q ) is the quantity of output, ( L ) is labor, and ( K ) is capital. If the marginal product of labor is \( MPL = \frac{partial Q}{partial L} = 10L \) and the marginal product of capital is \( MPK = \frac{partial Q}{partial K} = 5K \), what is the value of \( \frac{MPL}{MPK} \) when \( L = 2 \) and \( K = 3 \)?
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About This Question
This is Post Utme Osustech 2024 Economics Question 21. It is one of the objective questions from the 2024 Post Utme Osustech Economics examination.
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