A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm increases its labor input from 4 to 9 units and holds capital cons ant at 16 units, what will be the percentage change in output?

Question

A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm increases its labor input from 4 to 9 units and holds capital cons	ant at 16 units, what will be the percentage change in output?

Accepted Answer

The output will increase by 50%.

Post Utme Unilag 2020 Economics Question 8

A firm's production function is given by Q = 2L^0.5K^0.5, where Q is output, L is labor, and K is capital. If the firm increases its labor input from 4 to 9 units and holds capital cons\tant at 16 units, what will be the percentage change in output?

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