Question
What does the elasticity of substitution
depict?Solution
Elasticity of substitution is the elasticity of the ratio of two inputs to a production (or utility) function with respect to the ratio of their marginal products (or utilities). In a competitive market, it measures the percentage change in the two inputs used in response to a percentage change in their prices. It gives a measure of the curvature of an isoquant, and thus, the substitutability between inputs (or goods), i.e. how easy it is to substitute one input (or good) for the other
AE10 is related to CG20 in a certain way. In the same way, KO20 is related to MQ30. To which of the following is CG30 related, following the same logic?
In a certain code language, ‘fire rat pen’ is coded as 'go ne do' and ‘woman pen tale’ is coded as ‘ne hj og’. How is ‘pen’ coded in the...
Three statements are followed by three conclusions numbered I, II and III. Assuming the statements to be true even if they do not conform to real-world ...
What should come in place of ? in the given series based on the English alphabetical order ?
OWL QAQ ? UIA WMF
Select the option that is related to the third word in the same way as the second word is related to the first word.(The words must be considered as mea...
Select the option that is related to the fifth letter-cluster in the same way as the second letter-cluster is related to the first letter-cluster and th...
The position of how many letters will remain unchanged if each of the letter in the word 'BACHELOR' is arranged in alphabetical order?
Which of the following groups of letters when sequentially placed from left to right will complete the given series?Â
ee_fgghheeffgg_heeffgghhee...
10 is related to 15 following certain logic. Following the same logic, 42 is related to 63. To which of the following numbers is 22 related, following t...
Statement: X company has temporarily stopped manufacturing its products.
Conclusion:
i) Company X has the possibility of resuming producti...
