Post Utme Ims U 2021 Economics Question 37

Practice objective / multiple choice question 37 from the 2021 Post Utme Ims U Economics examination.

Post Utme Ims U 2021 Economics Objective / Multiple Choice
Question 37 POST_UTME_IMS_U • 2021 • ECONOMICS • objective

A firm is producing a good with the following production function: Q = 2L + 3K, where Q is the quantity produced, L is the number of labor hours, and K is the number of capital units. If the firm is currently producing 10 units of output and wants to increase production by 20%, how many more labor hours and capital units will it need to hire?

Answer Options

A. 5 labor hours and 3 capital units
Correct Answer B. 10 labor hours and 6 capital units
C. 15 labor hours and 9 capital units
D. 20 labor hours and 12 capital units
Correct Answer
B
Correct Option:
10 labor hours and 6 capital units

About This Question

This is Post Utme Ims U 2021 Economics Question 37. It is one of the objective questions from the 2021 Post Utme Ims U Economics examination.

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