Neco 2019 Economics Question 43
Practice objective / multiple choice question 43 from the 2019 Neco Economics examination.
A firm's production function is \(Q = 20 L^{0.5} K^{0.5}\). Currently the firm employs \(L = 25\) units of labour and \(K = 16\) units of capital. Compute the marginal product of labour (MPL) and the average product of labour (APL) at this point, and state whether the firm is experiencing increasing, constant, or decreasing returns to labour.
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About This Question
This is Neco 2019 Economics Question 43. It is one of the objective questions from the 2019 Neco Economics examination.
Difficulty level: Medium .
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