Post Utme Wellspring University 2021 Economics Question 21

Practice objective / multiple choice question 21 from the 2021 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2021 Economics Objective / Multiple Choice
Question 21 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's current inputs are L = 4 and K = 9, calculate the marginal product of labor (MPL) and marginal product of capital (MPK).

Answer Options

A. MPL = 0.5, MPK = 0.5
B. MPL = 1, MPK = 1
C. MPL = 0.25, MPK = 0.25
Correct Answer D. MPL = 0.5, MPK = 0.25
Correct Answer
D
Correct Option:
MPL = 0.5, MPK = 0.25

About This Question

This is Post Utme Wellspring University 2021 Economics Question 21. It is one of the objective questions from the 2021 Post Utme Wellspring University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support