Post Utme Lead City University 2021 Economics Question 27
Practice objective / multiple choice question 27 from the 2021 Post Utme Lead City University Economics examination.
A firm's production function is given by Q = 3L^0.7K^0.3, where Q is the output, L is the labor and K is the capital. If the firm wants to increase its output by 30%, what is the percentage change in capital required, assuming that the labor remains cons\tant?
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About This Question
This is Post Utme Lead City University 2021 Economics Question 27. It is one of the objective questions from the 2021 Post Utme Lead City University Economics examination.
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