Post Utme Veritas University 2023 Economics Question 20

Practice objective / multiple choice question 20 from the 2023 Post Utme Veritas University Economics examination.

Post Utme Veritas University 2023 Economics Objective / Multiple Choice

Question 20 POST_UTME_VERITAS_UNIVERSITY • 2023 • ECONOMICS • objective

A firm is producing a good u\sing a production function with cons\tant returns to scale. If the firm increases its input of labor by 10%, what will happen to its output?

Answer Options

Correct Answer A. Output will increase by 10%

B. Output will increase by 20%

C. Output will remain the same

D. Output will decrease by 10%

Correct Answer

Correct Option:

Output will increase by 10%

About This Question

This is Post Utme Veritas University 2023 Economics Question 20. It is one of the objective questions from the 2023 Post Utme Veritas University Economics examination.

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