Post Utme Elizade University 2023 Economics Question 4

Practice objective / multiple choice question 4 from the 2023 Post Utme Elizade University Economics examination.

Post Utme Elizade University 2023 Economics Objective / Multiple Choice
Question 4 POST_UTME_ELIZADE_UNIVERSITY • 2023 • ECONOMICS • objective

A firm's production function is given by the equation Q = 2L^2, where Q is the quantity produced and L is the labor input. If the labor input increases from 2 units to 3 units, what will be the effect on the quantity produced?

Answer Options

Correct Answer A. The quantity produced will increase.
B. The quantity produced will decrease.
C. The quantity produced will remain unchanged.
D. The effect on the quantity produced is uncertain.
Correct Answer
A
Correct Option:
The quantity produced will increase.

About This Question

This is Post Utme Elizade University 2023 Economics Question 4. It is one of the objective questions from the 2023 Post Utme Elizade University Economics examination.

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