Post Utme Wellspring University 2020 Economics Question 29
Practice objective / multiple choice question 29 from the 2020 Post Utme Wellspring University Economics examination.
A firm's production function is given by Q = 3L^\( 1/3 \)K^\( 2/3 \), where L is labor and K is capital. If the firm's current input levels are L = 8 and K = 27, calculate the elasticity of output with respect to labor.
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About This Question
This is Post Utme Wellspring University 2020 Economics Question 29. It is one of the objective questions from the 2020 Post Utme Wellspring University Economics examination.
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