Post Utme Oau 2023 Commerce Question 1
Practice objective / multiple choice question 1 from the 2023 Post Utme Oau Commerce examination.
A company's production function is given by the equation ( Q = 100L^0.5K^0.25 ), where Q is the quantity produced, L is the number of labor hours, and K is the capital invested. If the company wants to increase its production by 20% while keeping the capital invested constant, what percentage increase in labor hours is required?
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About This Question
This is Post Utme Oau 2023 Commerce Question 1. It is one of the objective questions from the 2023 Post Utme Oau Commerce examination.
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