Post Utme Crawford University 2017 Economics Question 21
Practice objective / multiple choice question 21 from the 2017 Post Utme Crawford University Economics examination.
A firm's production function is given by Q = 2L^\( 1/2 \)K^\( 1/2 \), where Q is output, 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?
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About This Question
This is Post Utme Crawford University 2017 Economics Question 21. It is one of the objective questions from the 2017 Post Utme Crawford University Economics examination.
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