Post Utme Skyline University 2024 Economics Question 8

Practice objective / multiple choice question 8 from the 2024 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2024 Economics Objective / Multiple Choice
Question 8 POST_UTME_SKYLINE_UNIVERSITY • 2024 • ECONOMICS • objective

A firm's production function is given by \( Q = 10L^0.5K^0.5 \). If the firm increases labor by 20% and capital by 15%, what is the new level of production?

Answer Options

A. 12.5
B. 15
Correct Answer C. 17.5
D. 20
Correct Answer
C
Correct Option:
17.5

About This Question

This is Post Utme Skyline University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Skyline University Economics examination.

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