Post Utme Bowen University 2023 Economics Question 1

Practice objective / multiple choice question 1 from the 2023 Post Utme Bowen University Economics examination.

Post Utme Bowen University 2023 Economics Objective / Multiple Choice
Question 1 POST_UTME_BOWEN_UNIVERSITY • 2023 • ECONOMICS • objective

The returns to scale in a production function can be classified into three types: increa\sing, decrea\sing, and cons\tant. Which of the following is an example of a production function with cons\tant returns to scale?

Answer Options

A. Q = 2K^\( 1/2 \) L^\( 1/2 \)
Correct Answer B. Q = 3K L
C. Q = 2K L
D. Q = 4K L^(2)
Correct Answer
B
Correct Option:
Q = 3K L

About This Question

This is Post Utme Bowen University 2023 Economics Question 1. It is one of the objective questions from the 2023 Post Utme Bowen University Economics examination.

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