Post Utme Wellspring University 2019 Economics Question 15
Practice objective / multiple choice question 15 from the 2019 Post Utme Wellspring University Economics examination.
Consider a firm that produces two goods, X and Y, u\sing two inputs, labor and capital. The production functions are given by X = 2L^\( 1/2 \)K^\( 1/2 \) and Y = 3L^\( 1/2 \)K^\( 1/2 \). If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in output of good X?
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About This Question
This is Post Utme Wellspring University 2019 Economics Question 15. It is one of the objective questions from the 2019 Post Utme Wellspring University Economics examination.
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