Post Utme Futa 2017 Economics Question 11
Practice objective / multiple choice question 11 from the 2017 Post Utme Futa 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 10% each, what is the percentage change in output?
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About This Question
This is Post Utme Futa 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Futa Economics examination.
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