Post Utme Babcock University 2023 Economics Question 15

Practice objective / multiple choice question 15 from the 2023 Post Utme Babcock University Economics examination.

Post Utme Babcock University 2023 Economics Objective / Multiple Choice
Question 15 POST_UTME_BABCOCK_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function is given by Q = 100L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm's labor and capital are increased by 20% and 15% respectively, what is the new production function?

Answer Options

A. Q = 100(1.2L)^0.5(1.15K)^0.5
B. Q = 100(1.2L)^0.5(1.15K)^0.5
Correct Answer C. Q = 100(1.2L)^0.5(1.15K)^0.5
D. Q = 100(1.2L)^0.5(1.15K)^0.5
Correct Answer
C
Correct Option:
Q = 100(1.2L)^0.5(1.15K)^0.5

About This Question

This is Post Utme Babcock University 2023 Economics Question 15. It is one of the objective questions from the 2023 Post Utme Babcock University Economics examination.

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