Post Utme Lasu 2019 Commerce Question 1

Practice objective / multiple choice question 1 from the 2019 Post Utme Lasu Commerce examination.

Post Utme Lasu 2019 Commerce Objective / Multiple Choice
Question 1 POST_UTME_LASU • 2019 • COMMERCE • objective

A company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is labor, and K is capital. If the company wants to increase its production by 20%, what percentage increase in labor and capital is required?

Answer Options

A. 10% increase in labor and 10% increase in capital
Correct Answer B. 20% increase in labor and 20% increase in capital
C. 15% increase in labor and 15% increase in capital
D. 25% increase in labor and 25% increase in capital
Correct Answer
B
Correct Option:
20% increase in labor and 20% increase in capital

About This Question

This is Post Utme Lasu 2019 Commerce Question 1. It is one of the objective questions from the 2019 Post Utme Lasu Commerce examination.

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