Post Utme Ui 2017 Economics Question 12

Practice objective / multiple choice question 12 from the 2017 Post Utme Ui Economics examination.

Post Utme Ui 2017 Economics Objective / Multiple Choice
Question 12 POST_UTME_UI • 2017 • ECONOMICS • objective

A firm's production function is given by Q = 2L^0.5K^0.5. If the price of labor increases by 20% and the price of capital remains cons\tant, what will be the effect on the firm's short-run supply curve?

Answer Options

A. The short-run supply curve will shift to the left.
Correct Answer B. The short-run supply curve will shift to the right.
C. The short-run supply curve will remain unchanged.
D. The short-run supply curve will shift upwards.
Correct Answer
B
Correct Option:
The short-run supply curve will shift to the right.

About This Question

This is Post Utme Ui 2017 Economics Question 12. It is one of the objective questions from the 2017 Post Utme Ui Economics examination.

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