Post Utme Oau 2024 Economics Question 4

Practice objective / multiple choice question 4 from the 2024 Post Utme Oau Economics examination.

Post Utme Oau 2024 Economics Objective / Multiple Choice
Question 4 POST_UTME_OAU • 2024 • ECONOMICS • objective

A firm is considering investing in a new techno\logy that will increase its productivity by 20%. The firm's current production function is Q = 2L^0.5K^0.5. What will be the new production function after the firm invests in the new techno\logy?

Answer Options

Correct Answer A. \( Q = 2.4L^0.5K^0.5 \)
B. \( Q = 2.2L^0.5K^0.5 \)
C. \( Q = 2.6L^0.5K^0.5 \)
D. \( Q = 2.8L^0.5K^0.5 \)
Correct Answer
A
Correct Option:
\( Q = 2.4L^0.5K^0.5 \)

About This Question

This is Post Utme Oau 2024 Economics Question 4. It is one of the objective questions from the 2024 Post Utme Oau Economics examination.

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