Post Utme Caleb University 2018 Economics Question 33
Practice objective / multiple choice question 33 from the 2018 Post Utme Caleb University Economics examination.
A firm's \cost function is given by C = 100 + 2L + 3K, where C is \cost, L is labor, and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in \cost?
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About This Question
This is Post Utme Caleb University 2018 Economics Question 33. It is one of the objective questions from the 2018 Post Utme Caleb University Economics examination.
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