Post Utme Uniport 2022 Commerce Question 27

Practice objective / multiple choice question 27 from the 2022 Post Utme Uniport Commerce examination.

Post Utme Uniport 2022 Commerce Objective / Multiple Choice
Question 27 POST_UTME_UNIPORT • 2022 • COMMERCE • objective

A firm's production function is given by the equation Q = 2L^0.5K^0.5, where Q is the output, L is the labor, and K is the capital. If the firm wants to increase its output by 20%, what is the required increase in labor and capital?

Answer Options

A. 10% increase in labor and 10% increase in capital
Correct Answer B. 20% increase in labor and 20% increase in capital
C. 30% increase in labor and 30% increase in capital
D. 40% increase in labor and 40% increase in capital
Correct Answer
B
Correct Option:
20% increase in labor and 20% increase in capital

About This Question

This is Post Utme Uniport 2022 Commerce Question 27. It is one of the objective questions from the 2022 Post Utme Uniport Commerce examination.

View More Post Utme Uniport 2022 Commerce Questions More Post Utme Uniport 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