Post Utme Wellspring University 2021 Economics Question 9

Practice objective / multiple choice question 9 from the 2021 Post Utme Wellspring University Economics examination.

Post Utme Wellspring University 2021 Economics Objective / Multiple Choice
Question 9 POST_UTME_WELLSPRING_UNIVERSITY • 2021 • ECONOMICS • objective

A firm is producing a good with a production function given by Q = 2L^\( 1/2 \)K^\( 1/2 \). The firm's \cost function is C = 10L + 20K. What is the firm's marginal \cost?

Answer Options

Correct Answer A. MC = 5L^\( -1/2 \)K^\( 1/2 \)
B. MC = 10L^\( -1/2 \)K^\( 1/2 \)
C. MC = 15L^\( -1/2 \)K^\( 1/2 \)
D. MC = 20L^\( -1/2 \)K^\( 1/2 \)
Correct Answer
A
Correct Option:
MC = 5L^\( -1/2 \)K^\( 1/2 \)

About This Question

This is Post Utme Wellspring University 2021 Economics Question 9. It is one of the objective questions from the 2021 Post Utme Wellspring University Economics examination.

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