Post Utme Futa 2020 Commerce Question 32

Practice objective / multiple choice question 32 from the 2020 Post Utme Futa Commerce examination.

Post Utme Futa 2020 Commerce Objective / Multiple Choice
Question 32 POST_UTME_FUTA • 2020 • COMMERCE • objective

A firm's production function is given by the equation Q = 2L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the firm wants to increase its output by 20%, what percentage increase in labor and capital is required?

Answer Options

A. 10% increase in labor and 10% increase in capital
Correct Answer B. 20% increase in labor and 20% increase in capital
C. 30% increase in labor and 30% increase in capital
D. 40% increase in labor and 40% increase in capital
Correct Answer
B
Correct Option:
20% increase in labor and 20% increase in capital

About This Question

This is Post Utme Futa 2020 Commerce Question 32. It is one of the objective questions from the 2020 Post Utme Futa Commerce examination.

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