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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
Determine the mean proportion of 40 and 19.6
The number of chocolates in boxes 'A', 'B', and 'C' are in the ratio 4:7:9. Combined in all 3 boxes, the total is 140 chocolates. If 4 chocolates are tr...
A solution contains 40L of pure milk. 25% of his this is taken out. Another 25% of the remaining solution is taken out and finally 25% of the contents l...
The ratio between two numbers is 7:8. If each number is increased by 9, the ratio between then become 10:11, find the difference between numbers.
Given that (4A = 5B = 7C), determine the ratio (B:C:A).
Ratio of males to females in village ‘A’ and village ‘B’ is 4:5 and 15:16, respectively and number of females in village ‘B’ is 25% more tha...
Some amount was divided among A, B and C in the ratio 4:5:8. If the share of A is 32 less than share of C, then find the 1/4th of total amount (in Rs).
If A : B = 7:5 and A is 14 more than B then find the sum of A and B.
In an office, the ratio of the number of males to number of females is 9:4. If 2 males joined the class and 8 females left the class, then the ratio of ...
