Post Utme Caleb University 2023 Commerce Question 6
Practice objective / multiple choice question 6 from the 2023 Post Utme Caleb University Commerce examination.
A company's production function is given by the Cobb-Douglas production function: ( Q = 10K^0.4L^0.6 ), where Q is the quantity produced, K is the capital stock, and L is the labor force. If the capital stock increases by 20% and the labor force remains constant, what is the percentage increase in the quantity produced?
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About This Question
This is Post Utme Caleb University 2023 Commerce Question 6. It is one of the objective questions from the 2023 Post Utme Caleb University Commerce examination.
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