Post Utme Covenant University 2021 Economics Question 21
Practice objective / multiple choice question 21 from the 2021 Post Utme Covenant University Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where L is labor and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output?
Answer Options
About This Question
This is Post Utme Covenant University 2021 Economics Question 21. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.