Post Utme Covenant University 2017 General Studies Question 9
Practice objective / multiple choice question 9 from the 2017 Post Utme Covenant University General Studies examination.
A company has a production function given by the equation Q = 2L^0.5K^0.5, where Q is the quantity produced, L is the number of labor hours, and K is the capital stock. If the company wants to increase its production by 10%, what percentage increase in capital stock is required, assuming that the labor hours remain constant?
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About This Question
This is Post Utme Covenant University 2017 General Studies Question 9. It is one of the objective questions from the 2017 Post Utme Covenant University General Studies examination.
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