To determine the dimension of the expression $\frac{1}{2}\varepsilon _0 E^2$, we need to understand the dimensions of each component in this expression.
The expression $\frac{1}{2}\varepsilon _0 E^2$ represents energy density in an electric field. Energy density has the dimensions of energy per unit volume.
The permittivity of free space, also known as the electric constant, has dimensions of $[M^{-1}L^{-3}T^4A^2]$, where A is the dimension of current.
The electric field has dimensions of $[MLT^{-3}A^{-1}]$.
We need to find the dimensions for $\varepsilon_0 E^2$.
So, $\varepsilon_0 E^2$ will have dimensions:
Thus, the dimension of the expression $\frac{1}{2}\varepsilon _0 E^2$ is $[ML^{-1}T^{-2}]$, which corresponds to energy per unit volume, as expected.
Hence, the correct option is $ML^{-1}T^{-2}$.