Post Utme Lead City University 2020 Economics Question 30
Practice objective / multiple choice question 30 from the 2020 Post Utme Lead City University Economics examination.
The production function for a firm is given by Q = 2L^0.5K^0.5, where Q is the output, L is the labor and K is the capital. If the firm wants to increase its output by 20% and the labor is increased by 10%, what is the required percentage increase in capital?
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About This Question
This is Post Utme Lead City University 2020 Economics Question 30. It is one of the objective questions from the 2020 Post Utme Lead City University Economics examination.
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