Post Utme Igbinedion University 2024 Economics Question 26

Practice objective / multiple choice question 26 from the 2024 Post Utme Igbinedion University Economics examination.

Post Utme Igbinedion University 2024 Economics Objective / Multiple Choice
Question 26 POST_UTME_IGBINEDION_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the new output?

Answer Options

A. 10% increase
B. 15% increase
Correct Answer C. 20% increase
D. 25% increase
Correct Answer
C
Correct Option:
20% increase

About This Question

This is Post Utme Igbinedion University 2024 Economics Question 26. It is one of the objective questions from the 2024 Post Utme Igbinedion University Economics examination.

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support