Post Utme Futa 2024 Commerce Question 13

Practice objective / multiple choice question 13 from the 2024 Post Utme Futa Commerce examination.

Post Utme Futa 2024 Commerce Objective / Multiple Choice
Question 13 POST_UTME_FUTA • 2024 • COMMERCE • objective

A firm's production function is given by Q = 2L^0.5K^0.5, where Q is the output, L is the labor, and K is the capital. If the firm increases its labor by 20% and capital by 15%, what is the effect on the output?

Answer Options

A. Output increases by 10%
B. Output increases by 12%
Correct Answer C. Output increases by 15%
D. Output increases by 18%
Correct Answer
C
Correct Option:
Output increases by 15%

About This Question

This is Post Utme Futa 2024 Commerce Question 13. It is one of the objective questions from the 2024 Post Utme Futa Commerce examination.

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