Post Utme Joseph Ayo Babalola University 2017 Commerce Question 28
Practice objective / multiple choice question 28 from the 2017 Post Utme Joseph Ayo Babalola University Commerce examination.
A company's cost function is given by C = 100 + 2L + 3K, where C is the total cost, L is the number of labor hours, and K is the capital invested. If the company wants to reduce its total cost by 15% while keeping labor hours constant, what percentage decrease in capital investment is required?
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About This Question
This is Post Utme Joseph Ayo Babalola University 2017 Commerce Question 28. It is one of the objective questions from the 2017 Post Utme Joseph Ayo Babalola University Commerce examination.
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