Post Utme Lead City University 2021 Economics Question 24
Practice objective / multiple choice question 24 from the 2021 Post Utme Lead City University Economics examination.
A firm's production function 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%, what is the percentage change in labor required, assuming that the capital remains cons\tant?
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About This Question
This is Post Utme Lead City University 2021 Economics Question 24. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.
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