Post Utme Christopher University 2021 Economics Question 13

Practice objective / multiple choice question 13 from the 2021 Post Utme Christopher University Economics examination.

Post Utme Christopher University 2021 Economics Objective / Multiple Choice
Question 13 POST_UTME_CHRISTOPHER_UNIVERSITY • 2021 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm's labor and capital inputs increase by 10% and 20%, respectively, what is the likely effect on the firm's output level?

Answer Options

A. The firm's output level will increase by 10%.
B. The firm's output level will increase by 20%.
Correct Answer C. The firm's output level will increase by 30%.
D. The firm's output level will increase by 40%.
Correct Answer
C
Correct Option:
The firm's output level will increase by 30%.

About This Question

This is Post Utme Christopher University 2021 Economics Question 13. It is one of the objective questions from the 2021 Post Utme Christopher University Economics examination.

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