Post Utme Elizade University 2022 Commerce Question 41
Practice objective / multiple choice question 41 from the 2022 Post Utme Elizade University Commerce examination.
A firm's cost function is given by C = 100 + 2L + 3K, where C is the total cost, L is the labor input, and K is the capital input. If the firm's labor input is increased by 10% and the capital input remains constant, what is the percentage change in the total cost?
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About This Question
This is Post Utme Elizade University 2022 Commerce Question 41. It is one of the objective questions from the 2022 Post Utme Elizade University Commerce examination.
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