Post Utme Caleb University 2022 Economics Question 7
Practice objective / multiple choice question 7 from the 2022 Post Utme Caleb University Economics examination.
A firm is considering the production of two goods, A and B. The production function for good A is given by Q_A = 2L^0.5K^0.5, where L is labor and K is capital. The production function for good B is given by Q_B = 3L^0.7K^0.3. If the firm has 100 units of labor and 50 units of capital, what is the marginal rate of technical substitution (MRTS) between labor and capital for good A?
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About This Question
This is Post Utme Caleb University 2022 Economics Question 7. It is one of the objective questions from the 2022 Post Utme Caleb University Economics examination.
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