If output is produced according to Q = 30L + 12K,then the output elasticity is:
A) 2.
B) 0.
C) 1.
D) 0.5.
E) 21.

Name: If output is produced according to Q = 30L + 12K,then the output elasticity is: A) 2. B) 0. C) 1. D) 0.5. E) 21.
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Question

Quizplus · Accepted Answer

Output elasticity measures the responsiveness of output to a change in inputs. In the given production function Q = 30L + 12K, the output Q changes proportionally with changes in L and K, indicating constant returns to scale and an elasticity of 1.

If Output Is Produced According to Q = 30L