Post Utme Uniport 2021 Economics Question 5
Practice objective / multiple choice question 5 from the 2021 Post Utme Uniport Economics examination.
A firm's production function is given by \( Q = 100K^{\frac{1}{2}}L^{\frac{1}{2}} \), where Q is the output, K is the capital, and L is the labor. If the firm's marginal product of labor (MPL) is 20, and the marginal product of capital (MPK) is 15, what is the value of the output elasticity of capital?
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About This Question
This is Post Utme Uniport 2021 Economics Question 5. It is one of the objective questions from the 2021 Post Utme Uniport Economics examination.
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