Post Utme Futa 2023 Commerce Question 24
Practice objective / multiple choice question 24 from the 2023 Post Utme Futa Commerce examination.
A firm's cost function is given by C = 2L + 3K, where C is cost, L is labor, and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the percentage change in cost?
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About This Question
This is Post Utme Futa 2023 Commerce Question 24. It is one of the objective questions from the 2023 Post Utme Futa Commerce examination.
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