Post Utme Joseph Ayo Babalola University 2019 Economics Question 19
Practice objective / multiple choice question 19 from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.
A firm is considering two production techno\logies: a traditional techno\logy that requires 10 units of labor to produce 100 units of output, and a modern techno\logy that requires 5 units of labor to produce 150 units of output. If the firm's production function is given by Q = f(L), where Q is the quantity produced and L is the number of units of labor, find the returns to scale.
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This is Post Utme Joseph Ayo Babalola University 2019 Economics Question 19. It is one of the objective questions from the 2019 Post Utme Joseph Ayo Babalola University Economics examination.
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