Post Utme Christopher University 2020 Commerce Question 30
Practice objective / multiple choice question 30 from the 2020 Post Utme Christopher University Commerce examination.
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm wants to increase its output by 15% while keeping labor input constant, what percentage increase in capital input is required?
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About This Question
This is Post Utme Christopher University 2020 Commerce Question 30. It is one of the objective questions from the 2020 Post Utme Christopher University Commerce examination.
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