Post Utme Skyline University 2020 Economics Question 18

Practice objective / multiple choice question 18 from the 2020 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2020 Economics Objective / Multiple Choice
Question 18 POST_UTME_SKYLINE_UNIVERSITY • 2020 • ECONOMICS • objective

U\sing the Cobb-Douglas production function, determine the marginal product of labor (MPL) and the marginal product of capital (MPK) for a firm with the following production function: Q = 10L^0.5K^0.5, where Q is output, L is labor, and K is capital.

Answer Options

Correct Answer A. MPL = 5L^\( -0.5 \)K^0.5, MPK = 5L^0.5K^\( -0.5 \)
B. MPL = 10L^\( -0.5 \)K^0.5, MPK = 10L^0.5K^\( -0.5 \)
C. MPL = 20L^\( -0.5 \)K^0.5, MPK = 20L^0.5K^\( -0.5 \)
D. MPL = 30L^\( -0.5 \)K^0.5, MPK = 30L^0.5K^\( -0.5 \)
Correct Answer
A
Correct Option:
MPL = 5L^\( -0.5 \)K^0.5, MPK = 5L^0.5K^\( -0.5 \)

About This Question

This is Post Utme Skyline University 2020 Economics Question 18. It is one of the objective questions from the 2020 Post Utme Skyline University Economics examination.

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