Post Utme Crawford University 2022 Economics Question 11
Practice objective / multiple choice question 11 from the 2022 Post Utme Crawford University Economics examination.
A firm's production function is given by Q = 2K^\( 1/2 \)L^\( 1/2 \), where Q is output, K is capital, and L is labor. If the firm's capital and labor 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 2022 Economics Question 11. It is one of the objective questions from the 2022 Post Utme Crawford University Economics examination.
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