Post Utme Futa 2023 Commerce Question 6
Practice objective / multiple choice question 6 from the 2023 Post Utme Futa Commerce examination.
A company has a production function given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company increases its labor input by 20% and capital input by 15%, what is the percentage change in the quantity produced?
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About This Question
This is Post Utme Futa 2023 Commerce Question 6. It is one of the objective questions from the 2023 Post Utme Futa Commerce examination.
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