Post Utme Rhema University 2017 Economics Question 17
Practice objective / multiple choice question 17 from the 2017 Post Utme Rhema University Economics examination.
A firm's production function is given by Q = 100K^0.5L^0.5, where Q is the output, K is the capital and L is the labor. If the firm wants to increase its output by 20% and the price of labor increases by 15%, what is the percentage change in the capital required?
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About This Question
This is Post Utme Rhema University 2017 Economics Question 17. It is one of the objective questions from the 2017 Post Utme Rhema University Economics examination.
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