Post Utme Pan Atlantic University 2017 Economics Question 11

Practice objective / multiple choice question 11 from the 2017 Post Utme Pan Atlantic University Economics examination.

Post Utme Pan Atlantic University 2017 Economics Objective / Multiple Choice
Question 11 POST_UTME_PAN-ATLANTIC_UNIVERSITY • 2017 • ECONOMICS • objective

In the context of returns to scale, what is the relationship between the production function and the scale of production?

Answer Options

Correct Answer A. The production function is homogeneous of degree 1.
B. The production function is homogeneous of degree 2.
C. The production function is homogeneous of degree 3.
D. The production function is homogeneous of degree 4.
Correct Answer
A
Correct Option:
The production function is homogeneous of degree 1.

About This Question

This is Post Utme Pan Atlantic University 2017 Economics Question 11. It is one of the objective questions from the 2017 Post Utme Pan Atlantic University Economics examination.

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