Q503
On the expansion path of the firm operating with homogeneous production function, which among the following remain constant? 1. Input ratio 2. Price ratio of inputs 3. Marginal rate of technical substitution between the factors 4. Elasticity of substitution Select the correct answer
A.
1 and 4
AnswerB.
1 and 2
C.
2, 3 and 4
D.
1, 2, 3 and 4
Answer: Option A
Solution
Answer: Option A
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