Economics · Production Theory
Given the CES production function y = [a1x1ρ + a2x2ρ]1/ρ, the elasticity of substitution between factors is:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 111 - ρ✓
- 21ρ
- 3ρ
- 41
Correct answer
11 - ρ
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