Post Utme Veritas University 2019 Economics Question 17
Practice objective / multiple choice question 17 from the 2019 Post Utme Veritas University Economics examination.
A firm's production function is given by Q = 100L^0.5K^0.5, where Q is the output, L is the labor and K is the capital. If the firm wants to increase its output by 10% and the price of labor increases by 5%, what is the percentage change in the price of capital?
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About This Question
This is Post Utme Veritas University 2019 Economics Question 17. It is one of the objective questions from the 2019 Post Utme Veritas University Economics examination.
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