Neco Model Questions Vol1 2023 Economics Question 17
Practice objective / multiple choice question 17 from the 2023 Neco Model Questions Vol1 Economics examination.
A firm's production function is \(Q = 2L^{0.5}K^{0.5}\). Initially the firm uses \(L=16\) units of labour and \(K=9\) units of capital. Labour is increased by \(44\%\) while capital is reduced by \(25\%\). What is the percentage change in output?
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About This Question
This is Neco Model Questions Vol1 2023 Economics Question 17. It is one of the objective questions from the 2023 Neco Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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