Post Utme Rhema University 2017 Economics Question 36
Practice objective / multiple choice question 36 from the 2017 Post Utme Rhema University Economics examination.
Consider a production function of the form Q = f(L,K) = 2L^0.5K^0.5. If the marginal product of labor (MPL) is 0.5K^0.5, and the marginal product of capital (MPK) is L^0.5/2, what is the value of the elasticity of substitution between labor and capital?
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This is Post Utme Rhema University 2017 Economics Question 36. It is one of the objective questions from the 2017 Post Utme Rhema University Economics examination.
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