Post Utme Ksu 2018 Economics Question 8

Practice objective / multiple choice question 8 from the 2018 Post Utme Ksu Economics examination.

Post Utme Ksu 2018 Economics Objective / Multiple Choice

Question 8 POST_UTME_KSU • 2018 • ECONOMICS • objective

A firm produces two goods, X and Y, u\sing two inputs, labor and capital. The production function for good X is given by Q_X = 2L^0.5K^0.5, where L is labor and K is capital. The production function for good Y is given by Q_Y = 3L^0.2K^0.8. What is the marginal rate of technical substitution (MRTS) of labor for good X with respect to good Y?

A. MRTS_L = 1.5L^0.1K^0.2

Correct Answer B. MRTS_L = 2L^0.3K^0.1

C. MRTS_L = 3L^0.1K^0.3

D. MRTS_L = 4L^0.2K^0.4

Correct Answer

Correct Option:

MRTS_L = 2L^0.3K^0.1

This is Post Utme Ksu 2018 Economics Question 8. It is one of the objective questions from the 2018 Post Utme Ksu Economics examination.

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