Neco 2017 Geography Question 34
Practice objective / multiple choice question 34 from the 2017 Neco Geography examination.
A factory produces widgets using labour (L) and capital (K) with the production function \(Q = 20 L^{0.6} K^{0.4}\). Currently it employs 125 workers and 64 machines. Each worker costs \(150\) Naira per day and each machine costs \(500\) Naira per day. Widgets sell for \(200\) Naira each. Management wants a daily profit of at least \(400,000\) Naira. Assuming the number of machines remains unchanged, determine the minimum number of additional workers required.
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About This Question
This is Neco 2017 Geography Question 34. It is one of the objective questions from the 2017 Neco Geography examination.
Difficulty level: Hard .
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