Post Utme Esut 2018 Economics Question 3

Practice objective / multiple choice question 3 from the 2018 Post Utme Esut Economics examination.

Post Utme Esut 2018 Economics Objective / Multiple Choice
Question 3 POST_UTME_ESUT • 2018 • ECONOMICS • objective

A firm's \cost function is given by C = 2L + 3K. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in total \cost?

Answer Options

A. 5%
B. 10%
Correct Answer C. 15%
D. 20%
Correct Answer
C
Correct Option:
15%

About This Question

This is Post Utme Esut 2018 Economics Question 3. It is one of the objective questions from the 2018 Post Utme Esut Economics examination.

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