Post Utme Redeemers University 2018 Economics Question 13

Practice objective / multiple choice question 13 from the 2018 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2018 Economics Objective / Multiple Choice
Question 13 POST_UTME_REDEEMERS_UNIVERSITY • 2018 • ECONOMICS • objective

A firm's production function is given by Q = 2L + 3K, where Q is the quantity produced, L is the labor input, and K is the capital input. The \cost function is given by C = 10L + 20K. Find the marginal product of labor and the marginal product of capital.

Answer Options

Correct Answer A. MP_L = 2, MP_K = 3
B. MP_L = 3, MP_K = 2
C. MP_L = 4, MP_K = 1
D. MP_L = 1, MP_K = 4
Correct Answer
A
Correct Option:
MP_L = 2, MP_K = 3

About This Question

This is Post Utme Redeemers University 2018 Economics Question 13. It is one of the objective questions from the 2018 Post Utme Redeemers University Economics examination.

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