Gce Model Questions Vol1 2017 Economics Question 35
Practice objective / multiple choice question 35 from the 2017 Gce Model Questions Vol1 Economics examination.
A firm's production function is \(Q = 5 L^{0.5} K^{0.5}\). Currently it uses \(L = 64\) workers and \(K = 36\) units of capital. (a) Calculate the marginal product of labour (MPL) at the current input mix (to three decimal places). (b) If the firm wishes to raise output by 10 % while keeping capital constant, estimate the additional number of workers required (round up to the nearest whole worker).
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About This Question
This is Gce Model Questions Vol1 2017 Economics Question 35. It is one of the objective questions from the 2017 Gce Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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