Q148
A significant property of the Cobb-Douglas production function is that the elasticity of substitution between inputs is
A.
Equal to 1
AnswerB.
More than 1
C.
Less than 1
D.
0
Answer: Option A
Solution
Answer: Option A
Solution:
A significant property of the Cobb-Douglas production function is that the elasticity of substitution between inputs is Equal to 1.