Post Utme Unilag 2022 Economics Question 5

Practice objective / multiple choice question 5 from the 2022 Post Utme Unilag Economics examination.

Post Utme Unilag 2022 Economics Objective / Multiple Choice
Question 5 POST_UTME_UNILAG • 2022 • ECONOMICS • objective

A firm is producing a good with the following production function: Q = 2L^0.5K^0.5. If the firm's labor and capital inputs are increased by 10%, what will be the effect on output?

Answer Options

A. Output will increase by 10%.
Correct Answer B. Output will increase by 20%.
C. Output will increase by 30%.
D. Output will remain unchanged.
Correct Answer
B
Correct Option:
Output will increase by 20%.

About This Question

This is Post Utme Unilag 2022 Economics Question 5. It is one of the objective questions from the 2022 Post Utme Unilag Economics examination.

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