In the Cobb-Douglas production function the elasticity of substitution between factors is
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1 mark, −0.33MicroeconomicsProduction and returns to scaleProduction functions and the elasticity of substitutionEasyabout 1 min
UoH 2016 Question 67: Production and returns to scale
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Production and returns to scale has come up 92 times in 6 exams since 2007.
What this question tests
This question is on Production functions and the elasticity of substitution, part of Production and returns to scale in Microeconomics.
Cobb-Douglas, CES and fixed-proportions technologies, and how easily inputs substitute.
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