Post Utme Eksu 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Eksu Economics examination.

Post Utme Eksu 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_EKSU • 2024 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's labor (L) increases by 20% and capital (K) remains cons\tant, what will be the effect on output?

Answer Options

A. Output will increase by 10%
Correct Answer B. Output will increase by 20%
C. Output will increase by 30%
D. Output will remain unchanged.
Correct Answer
B
Correct Option:
Output will increase by 20%

About This Question

This is Post Utme Eksu 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Eksu Economics examination.

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