Post Utme Noun 2024 Commerce Question 29

Practice objective / multiple choice question 29 from the 2024 Post Utme Noun Commerce examination.

Post Utme Noun 2024 Commerce Objective / Multiple Choice
Question 29 POST_UTME_NOUN • 2024 • COMMERCE • objective

A firm's revenue function is given by R = 200 + 4L + 5K, where R is the total revenue, L is labor, and K is capital. If the firm's labor and capital inputs are increased by 20% and 15% respectively, what is the new total revenue?

Answer Options

Correct Answer A. R = 240 + 4.8L + 6.25K
B. R = 240 + 4.2L + 5.75K
C. R = 240 + 4.6L + 6.75K
D. R = 240 + 4.8L + 7.25K
Correct Answer
A
Correct Option:
R = 240 + 4.8L + 6.25K

About This Question

This is Post Utme Noun 2024 Commerce Question 29. It is one of the objective questions from the 2024 Post Utme Noun Commerce examination.

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