Post Utme Wellspring University 2023 Economics Question 30
Practice objective / multiple choice question 30 from the 2023 Post Utme Wellspring University Economics examination.
A firm's production function is given by \( Q = 10L^0.5K^0.5 \), where ( Q ) is the output, ( L ) is the labor and ( K ) is the capital. If the firm wants to increase its output by 20%, what percentage increase in labor and capital is required?
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About This Question
This is Post Utme Wellspring University 2023 Economics Question 30. It is one of the objective questions from the 2023 Post Utme Wellspring University Economics examination.
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