Waec Model Questions Vol1 2024 Economics Question 23
Practice objective / multiple choice question 23 from the 2024 Waec Model Questions Vol1 Economics examination.
A firm uses the Cobb‑Douglas production function Q = L^0.5 K^0.5. To produce 100 units of output it employs 25 units of labour. What is the marginal rate of technical substitution of labour for capital (MRTS_{LK}) at this input combination?
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About This Question
This is Waec Model Questions Vol1 2024 Economics Question 23. It is one of the objective questions from the 2024 Waec Model Questions Vol1 Economics examination.
Difficulty level: Medium .
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