Post Utme Madonna University 2019 Commerce Question 20
Practice objective / multiple choice question 20 from the 2019 Post Utme Madonna University Commerce examination.
A firm's production function is given by Q = 3L^(2/3)K^(1/3), where Q is the quantity produced, L is the labor input, and K is the capital input. If the firm's labor input increases by 20% and the capital input remains constant, by what percentage will the quantity produced increase?
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About This Question
This is Post Utme Madonna University 2019 Commerce Question 20. It is one of the objective questions from the 2019 Post Utme Madonna University Commerce examination.
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