Post Utme Lasu 2017 Economics Question 32

Practice objective / multiple choice question 32 from the 2017 Post Utme Lasu Economics examination.

Post Utme Lasu 2017 Economics Objective / Multiple Choice
Question 32 POST_UTME_LASU • 2017 • ECONOMICS • objective
Post Utme Lasu 2017 Economics Question 32 diagram

A firm in Nigeria is producing a product with a production function Q = 2L + 3K, where L is labor and K is capital. If the firm is currently producing 10 units of the product and wants to increase production to 15 units, what is the required increase in labor and capital?

Answer Options

A. Increase in labor by 5 units, increase in capital by 10 units
Correct Answer B. Increase in labor by 10 units, increase in capital by 20 units
C. Increase in labor by 15 units, increase in capital by 30 units
D. Increase in labor by 20 units, increase in capital by 40 units
Correct Answer
B
Correct Option:
Increase in labor by 10 units, increase in capital by 20 units

About This Question

This is Post Utme Lasu 2017 Economics Question 32. It is one of the objective questions from the 2017 Post Utme Lasu Economics examination.

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