Post Utme Coal City University 2024 Commerce Question 7

Practice objective / multiple choice question 7 from the 2024 Post Utme Coal City University Commerce examination.

Post Utme Coal City University 2024 Commerce Objective / Multiple Choice
Question 7 POST_UTME_COAL_CITY_UNIVERSITY • 2024 • COMMERCE • objective

A company's production function is given by Q = 2L^(1/2)K^(1/2). If the company wants to increase its output by 20%, what should be the percentage increase in labor and capital?

Answer Options

A. 10% in labor and 10% in capital
B. 15% in labor and 15% in capital
Correct Answer C. 20% in labor and 20% in capital
D. 25% in labor and 25% in capital
Correct Answer
C
Correct Option:
20% in labor and 20% in capital

About This Question

This is Post Utme Coal City University 2024 Commerce Question 7. It is one of the objective questions from the 2024 Post Utme Coal City University Commerce examination.

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