Post Utme Unilorin 2017 Commerce Question 5
Practice objective / multiple choice question 5 from the 2017 Post Utme Unilorin Commerce examination.
A company is considering outsourcing its production to a foreign country. The company's production function is given by Q = 100L^0.5K^0.5, where Q is the quantity produced, L is the labor input, and K is the capital input. If the company wants to increase its output by 20% while keeping labor input constant at 100 units, what percentage increase in capital input is required?
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About This Question
This is Post Utme Unilorin 2017 Commerce Question 5. It is one of the objective questions from the 2017 Post Utme Unilorin Commerce examination.
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