Neco Model Questions Vol1 2017 Geography Question 17
Practice objective / multiple choice question 17 from the 2017 Neco Model Questions Vol1 Geography examination.
A factory produces widgets. The total cost (in naira) is \(C = 5000 + 20L + 15K\), where \(L\) is the number of labour‑hours and \(K\) is the number of capital units. The revenue (in naira) is \(R = 50Q\), where output \(Q\) is given by the production function \(Q = 2\sqrt{L}\sqrt{K}\). If the factory uses \(K = 100\) capital units and aims for a profit of \(\text{₦}5{,}000\), determine the required labour‑hours \(L\). Then, if the labour cost per hour increases by 10 %, calculate the new profit (to the nearest naira).
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About This Question
This is Neco Model Questions Vol1 2017 Geography Question 17. It is one of the objective questions from the 2017 Neco Model Questions Vol1 Geography examination.
Difficulty level: Hard .
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