Post Utme Redeemers University 2021 Economics Question 31

Practice objective / multiple choice question 31 from the 2021 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2021 Economics Objective / Multiple Choice
Question 31 POST_UTME_REDEEMERS_UNIVERSITY • 2021 • ECONOMICS • objective

The concept of returns to scale in production theory implies that as the level of output increases, the marginal product of labor also increases, but at a decrea\sing rate. Which of the following statements best describes the relationship between the marginal product of labor and the level of output?

Answer Options

A. MP_L = f(Q) where MP_L increases at an increa\sing rate as Q increases
B. MP_L = f(Q) where MP_L increases at a cons\tant rate as Q increases
Correct Answer C. MP_L = f(Q) where MP_L increases at a decrea\sing rate as Q increases
D. MP_L = f(Q) where MP_L decreases at a cons\tant rate as Q increases
Correct Answer
C
Correct Option:
MP_L = f(Q) where MP_L increases at a decrea\sing rate as Q increases

About This Question

This is Post Utme Redeemers University 2021 Economics Question 31. It is one of the objective questions from the 2021 Post Utme Redeemers University Economics examination.

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