Post Utme Redeemers University 2022 Economics Question 1

Practice objective / multiple choice question 1 from the 2022 Post Utme Redeemers University Economics examination.

Post Utme Redeemers University 2022 Economics Objective / Multiple Choice

Question 1 POST_UTME_REDEEMERS_UNIVERSITY • 2022 • ECONOMICS • objective

Determine the returns to scale for a firm with a production function Q = 2L^2K, where Q is output, L is labor, and K is capital.

Answer Options

A. Increa\sing Returns to Scale

B. Decrea\sing Returns to Scale

Correct Answer C. Cons\tant Returns to Scale

D. No Returns to Scale

Correct Answer

Correct Option:

Cons\tant Returns to Scale

About This Question

This is Post Utme Redeemers University 2022 Economics Question 1. It is one of the objective questions from the 2022 Post Utme Redeemers University Economics examination.

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