Post Utme Covenant University 2021 Economics Question 25
Practice objective / multiple choice question 25 from the 2021 Post Utme Covenant University Economics examination.
A firm's production function is given by Q = 3L^\( 2/3 \)K^\( 1/3 \), where L is labor and K is capital. If the firm's labor and capital inputs are increased by 25% and 20% respectively, what is the percentage change in output?
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About This Question
This is Post Utme Covenant University 2021 Economics Question 25. It is one of the objective questions from the 2021 Post Utme Covenant University Economics examination.
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