Post Utme Veritas University 2018 Commerce Question 26
Practice objective / multiple choice question 26 from the 2018 Post Utme Veritas University Commerce examination.
A company's production function is given by the Cobb-Douglas production function: Q = 10K^0.4L^0.6, where Q is the output, K is the capital, and L is the labor. If the company wants to increase its output by 20% while keeping the capital constant, what percentage increase in labor is required?
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About This Question
This is Post Utme Veritas University 2018 Commerce Question 26. It is one of the objective questions from the 2018 Post Utme Veritas University Commerce examination.
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