Post Utme Al Hikmah University 2023 Economics Question 20
Practice objective / multiple choice question 20 from the 2023 Post Utme Al Hikmah University Economics examination.
A firm has a production function given by Q = 100K^\( 1/2 \)L^\( 1/2 \), where Q is the output, K is the capital and L is the labor. If the firm wants to increase its output by 20% while keeping the capital cons\tant, what percentage increase in labor is required?
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This is Post Utme Al Hikmah University 2023 Economics Question 20. It is one of the objective questions from the 2023 Post Utme Al Hikmah University Economics examination.
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