Post Utme Crawford University 2024 Economics Question 8
Practice objective / multiple choice question 8 from the 2024 Post Utme Crawford University Economics examination.
A firm produces two goods, A and B, u\sing two inputs, labor and capital. The production function for good A is Q_A = 2L^0.5K^0.5, and the production function for good B is Q_B = 3L^0.7K^0.3. If the firm allocates 100 units of labor and 50 units of capital, what is the marginal rate of technical substitution (MRTS) of labor for good A with respect to good B?
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About This Question
This is Post Utme Crawford University 2024 Economics Question 8. It is one of the objective questions from the 2024 Post Utme Crawford University Economics examination.
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