Elasticity of substitution is the ratio of percentage change in capital-labour ratio with the percentage change in Marginal Rate of Technical Substitution. |
An elasticity of substitution is a measure of the extent to which one input substitutes for another input along an isoquant. |
The (Hicks) elasticity of substitution is the percent change in an input mix that results from a percent change in the corresponding marginal rate of technical ... |
ELASTICITY OF SUBSTITUTION definition: the degree to which the number of products sold changes when the price of another similar product…. Learn more. |
26 окт. 2016 г. · The elasticity of substitution between any two factors can be defined for any concave production function of several variables. But for our ... |
Constant elasticity of substitution (CES) is a common specification of many production functions and utility functions in neoclassical economics. |
1 янв. 2009 г. · Abstract. This paper develops a classification scheme of the many different definitions of elasticities of substitution and complementarity ... |
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