Post Utme Rsu 2022 Economics Question 9

Practice objective / multiple choice question 9 from the 2022 Post Utme Rsu Economics examination.

Post Utme Rsu 2022 Economics Objective / Multiple Choice
Question 9 POST_UTME_RSU • 2022 • ECONOMICS • objective

A firm is producing a good with a production function given by Q = 2L^2 + 3K, where Q is the quantity produced, L is the labor input, and K is the capital input. If the price of labor is ₦50 per unit and the price of capital is ₦100 per unit, find the returns to scale.

Answer Options

Correct Answer A. Increa\sing returns to scale
B. Decrea\sing returns to scale
C. Cons\tant returns to scale
D. No returns to scale
Correct Answer
A
Correct Option:
Increa\sing returns to scale

About This Question

This is Post Utme Rsu 2022 Economics Question 9. It is one of the objective questions from the 2022 Post Utme Rsu Economics examination.

View More Post Utme Rsu 2022 Economics Questions More Post Utme Rsu 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