A firm's production function is given by Q = 2L^$ 1/2 $K^$ 1/2 $, where Q is the output, L is the labor and K is the capital. If the firm wants to increase its output by 10%, what percentage increase in labor and capital is required?

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10% increase in labor and 10% increase in capital

Post Utme Bsu 2023 Economics Question 3

A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is the output, L is the labor and K is the capital. If the firm wants to increase its output by 10%, what percentage increase in labor and capital is required?

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