Post Utme Oau 2022 Economics Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Oau Economics examination.

Post Utme Oau 2022 Economics Objective / Multiple Choice
Question 27 POST_UTME_OAU • 2022 • ECONOMICS • objective

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

Answer Options

Correct Answer A. Q = 2(1.2L)^0.5 (1.15K)^0.5
B. Q = 2(1.2L)^0.5 (1.15K)^0.5 + 10
C. Q = 2(1.2L)^0.5 (1.15K)^0.5 - 5
D. Q = 2(1.2L)^0.5 (1.15K)^0.5 + 20
Correct Answer
A
Correct Option:
Q = 2(1.2L)^0.5 (1.15K)^0.5

About This Question

This is Post Utme Oau 2022 Economics Question 27. It is one of the objective questions from the 2022 Post Utme Oau Economics examination.

View More Post Utme Oau 2022 Economics Questions More Post Utme Oau Practice Questions Back to Questions

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