Post Utme Unn 2018 Economics Question 35

Practice objective / multiple choice question 35 from the 2018 Post Utme Unn Economics examination.

Post Utme Unn 2018 Economics Objective / Multiple Choice
Question 35 POST_UTME_UNN • 2018 • ECONOMICS • objective

A firm's production function is given by Q = 3L^0.7K^0.3. If the firm's labor (L) increases by 20% and its capital (K) remains cons\tant, what will be the effect on the firm's output?

Answer Options

A. The firm's output will increase by 20%.
Correct Answer B. The firm's output will increase by 30%.
C. The firm's output will remain unchanged.
D. The firm's output will decrease by 20%.
Correct Answer
B
Correct Option:
The firm's output will increase by 30%.

About This Question

This is Post Utme Unn 2018 Economics Question 35. It is one of the objective questions from the 2018 Post Utme Unn Economics examination.

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