Post Utme Esut 2024 Economics Question 1
Practice objective / multiple choice question 1 from the 2024 Post Utme Esut Economics examination.
A firm's production function is given by Q = 100L^0.5K^0.5, 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?
Answer Options
About This Question
This is Post Utme Esut 2024 Economics Question 1. It is one of the objective questions from the 2024 Post Utme Esut Economics examination.
Master the Exam!
You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.